If it works I would leave it as is, maybe take the grips off and blast it out with Action Blaster.
If it were me, and probably only me, if it were my father's service revolver I would probably leave it as is, the last way it was when he put it away. I might just hang his old duty rig, with the 10 in the holster, somewhere in my home as a way to remember his days as a cop, but I would not make the gun a "shooter"...... I would put some Eezox on the surfaces to protect it from rust, probably put it back in the holster where it was for the last 25 years and keep it in a safe place. Because of it's history to you and your family it's much more than just an old Model 10, it's a part of your heritage.
I did the same thing (sort of) after I got out of the Army, I kept my helmet, the same one I wore overseas in 2007-08 and also for the last year I was in. I kept it, dirt, sweat, grease and all, and put it away in a box in my basement, it was my way of keeping something that I used every day during some dark days in my life, but also my way of putting the past away and "closing" that chapter of my life. I would kind of be upset if in 10-20 years, if I have a son then, to find out he dug it out, cleaned it and started using it as a skateboard helmet or something. That helmet is just a "time capsule" for me, just like maybe that 10 was to your Father, he took his gun belt off, left everything the way it was, and just put it away........
