FWIW, clean it up. If the P/C are in good shape buy OEM rings, seals and some Dirko. New rubbers(fuel, impulse, intake, ect.), filters and a carb kit. Put it back together. You will have a long lasting, durable and totally serviceable firewood saw which is over weight and under powered by todays standards. Still today totally worth it. *If P/C, bearings, crank and such are still good.* This would be the deciding point for me.
I rebuilt my Dad's 029 FARM BOSS, a mid-80' model with some sentimental value(to me), 5-6 years ago in the condition I outline above, runs and cuts good for what it is(better than home-owner & less than pro grade). I did do a muffler mod at the time. The "FARM BOSS" series saws were good saws in their day. Still hold their own for what they are today. Just don't expect to win cookie cutting competitions or impress at a GTG