Welcome to the forum.
There is not much that I can add to the more than eloquent comments made by my colleagues above. I will merely add my .02 worth. IMHO, the family heirloom gun is beyond restoration. If you add a cylinder and barrel then THE family heirloom gun ceases to exist. If you are looking to have a .38 special shooter then you should be able to find an original without much more expense and without any rebuilding hassle.
The model 10 should be a good shooter with a little cleaning and lubrication. Rebluing is a topic that has been discussed here on the forum ad nauseam. Rebluing a shooter grade gun will not make it collectible and it won't shoot any better. If you are doing it because it will look better then it's your money so do what you like. Again, you can probably sell that gun and for less than what you would spend on a blue job, buy a better example that won't need to be refinished.
All in all, like most things in life, your money, your choice.
