The LGR is a very nice target gun. They typically go for around $500 with sights, so if you're not careful a full restoration might leave you with a free gun that costs more than it's worth. If it were mine I would refinish the stock myself (it's not difficult to do), and just shine the metal up with fine steel wool and oil. Use the money you save to buy a nice 300.
Interestingly, the perceived recoil is higher on the LGR than it is on a well tuned FWB 300s. The LGR is an absolute bear to cock. The last few inches of the forward stroke is like the bicycle pump from He||.
The LGR is not a hard hitting gun. Mine shoots only 550 fps with 7.0 gr wadcutters as opposed to my 300s that shoots 635.
I've had two LGRs. One with the plainest "walnut" stock I've seen and one with the nicest. The LGR exhibits fine craftsmanship, as do all older Walthers, and is a joy to own. Have fun.