The unrestored ones I've looked at on the web of the same model are only going for around $300-400... If this thing was worth an arm and a leg, I would do whatever I needed to make sure it retained value. Though $400 is a lot of money, is isn't much for a saddle. I'd rather have it fixed up so I could ride in it.
Plus, I'm a rider, not an antique collector. :P
However, before any decision is made, I'm going to find someone knowledgeable about old saddles to tell me exactly how much it's worth.