Well, just because it's old doesn't make it worth of refurbishing. You wouldn't restore a Pinto, would you? Really, it depends on how much it will cost to refurb the unit vs. what it's worth...both on the market and to you. I'm not calling your JVC a Pinto and admittedly I'm not real familiar with vintage JVC's. Just keep in mind the Marantz models from the '70's are somewhat legendary, along with Pioneer, Sansui, and Fisher.

If the unit has value, whether monetary or sentimental, I say go for it as long as the cost isn't ridiculous. You might check out audiokarma.com as well. Lots of vintage guys hang out there from what I hear.

Hope this helps.