Found a 1940s Stanley No. 45 combo plane at estate sale for $20 - worth restoring?

Hey folks, just got back from an estate sale and picked up a Stanley No. 45 combination plane for $20. It's got some surface rust but all the parts seem there (well, most of them). The box is beat up but the cutters look decent. I've restored a few hand planes before but never one of these multi-plane gizmos. Is it worth the effort or should I flip it? I know these can be a pain to get working right. Any tips on where to start? Pics attached.

$20 is a steal if the irons aren't pitted. I've restored a couple of those. First thing: check the skate for cracks and make sure the depth stops move freely. The 45 is notorious for missing the little set screws. If you need parts, Highland Woodworking still sells some repros. As for worth it? A tuned 45 can bring $150-200 to the right buyer, but if you actually use it for dados and beads, it's a joy. Just don't expect it to replace a router. Start with evaporust, not a wire wheel. Patience.

Nice score! I picked one up last year for $30 at a flea market and spent a weekend cleaning it. Mine was missing the cam rest but I found one on eBay. Honestly, I use it more for making tongues and grooves on old house trim than anything. If you're into restoration, go for it. If you just want a user, you might be better off with a Veritas combo plane. But for $20? No brainer. Just don't soak the wood parts in anything. What's the patent date on the body?

Dude, $20? I paid $80 for mine and thought I got a deal. Steve is right about the Evaporust. Also, check the nicker and the slitter - those are often missing. If you have all the cutters, that's the real value. I'd say clean it up, give it a light oil, and try it out. If you hate it, flip it for a profit. But be warned: these things are like a puzzle box. You'll spend an hour setting it up for one cut. Still, satisfying when it works. Post pics of the cutters if you can.

Thanks for the tips, everyone. I checked the patent date: March 11, 1902 (or maybe 1903, hard to read). The skate looks solid, no cracks. I'm missing one of the depth stop screws but I can source that. The cutters are all there except for the 1/4" plow. I'll post updates in the restoration thread. Gonna start with a vinegar bath for the small parts and see how it goes. Appreciate the help!