Here are my recommendations for Bill and his sister:  Get a second
(or third) opinion.  Insist on a detailed description of all work
proposed.  (I charge for this but apply it to the contract balance if
the customer says "go.")  Determine the overall structural integrity
of the plate, bridges, soundboard, backposts, etc.  Do not try to
"humidify" the piano to tighten the tuning pins; you'll compound the
problem with rust and/or mold.  Restringing a piano is not a "do it
yourself" project.

Generally most vintage players are nearing (or past) the point of
necessary restringing.  But the best set of new strings is useless if
the action is sloppy and the hammers are grooved to the moldings, etc.
Look; none of us are getting any younger.  Any mechanical thing will
eventually wear out.  Piano wire under tension tends to deteriorate,
sort of "crystallize" with age no matter how well it was cared for or
how much it was used.

On the plus side; assuming a competent craftsman is found most of these
old players can be put into such fine shape that you could not find any
new vertical piano to compare.  So put another way, it usually less
expensive in a "casters to lid" restoration than what it would cost to
purchase a _full-size_ upright, brand new.  If you can find one.

Finally, whether or not a piano is worthy of any repair is determined
by the original quality of its manufacturer.  On rare occasions this is
superceded by sentimental value as a family heirloom or celebrity
ownership, etc.

Always have any piano (new or used) inspected by a qualified technician
before you sign anything or open your checkbook.  Crooks hate this but
any honest retailer or individual would be happy to have a good tuner
telling you what a great buy their piano is!

No wooden nickels,
Eric J. Shoemaker