Paul, taking up the carpeting is the easy part. Just start at a corner, grab it with a pair of pliers and start pulling. Under the carpet, you will find padding probably stapled every couple of feet. Pull this up also and remove all the staples (screwdriver and pliers). Around all the walls of the room you will find tacks strips. Pry these up and be careful. Chances are, you will get stuck at least once--I always do. If some gobs of padding are still sticking to the floor, try "Goof Off" and a putty knife--gently, try not to scratch the floor.
Now you have a decision to make. Vacuum and damp mop the floor and try to decide what shape the hardwood is in. Check the posts below from 9/16-17 about how to renew the finish or sand to bare wood and refinish. You will want to fill all the nail and staple holes with Minwax wood filler for sure. But only by your taking a good hard look at the current condition of the floor can you decide on a finishing routine. Henry