I don't think you need to do too much to do better than an entry level type of receiver. I can't comment on the Sansui. The last time I heard a Sansui was in 1974. I heard it a lot. It was owned by the guy in the next dorm room to me in university.
You can be very rational about this. Compare what it would cost to refurbish the Sansui to what it would cost to buy something already current. If it's economical, then it might be a fun thing to do, but don't expect it to have any resale value, so it's a sunk cost.
Also consider selling the receiver and going to separates.
I think you should listen to a few things in your price range at your local store before sinking any money into this. That way you will get a feel for whether it is worth the money to refurbish.
You can be very rational about this. Compare what it would cost to refurbish the Sansui to what it would cost to buy something already current. If it's economical, then it might be a fun thing to do, but don't expect it to have any resale value, so it's a sunk cost.
Also consider selling the receiver and going to separates.
I think you should listen to a few things in your price range at your local store before sinking any money into this. That way you will get a feel for whether it is worth the money to refurbish.