David, I restored the 100+ yr old tub in old house restoration 2 years ago. If the inside is good then your in luck. The outsides are painted and you can easily repaint this and be on your way. I wouldnt recomend stripping the outside completely as the old tubs were painted with lead paint and removeing it will be huge issue on clean-up. Also the paint is extremely durable and rust resistant which is good. Just sand the rust spots and clean the painted surfaces thoroughly with a chemical solved like paint thinner. Prime several coates of good primer, like auto body primer and then pain as you like. One note about the feet. They attach by wedging into a bracket and sometimes get loose. You can keep them in place by wedgeing a cut nail between the tub and the tounge of the claw foot. this is really helpful when turning the tub right side up.