Well,
At least you will Know what you have Coop. There's a thread that I think D'old Guy started thats asks the best mod for the K-5...there are more than just a few blokes who will agree.
A good refreshing will do wonders for the old girl! I think you are gonna be in for a pleasant surprise once you get her lit off after the re-build.
I think you are doing the right thing, and with any luck she'll be ready by spring!
Tuck\o/