Generally, as Krags go... unless there is excessive headspace, major rust and pitting, or a cracked locking lug on the bolt, you are most likely good to go with a thorough cleaning.  Still, having a gunsmith check it out would be a good idea.  Just make sure he is knowledgeable in Krags (not all are) so he doesn't give you bum info.  Remington and Winchester 30-40 ammo is still available, albeit hard to find sometimes.  Reloading is always a great option with Krags, so I would advise you to save your brass.

There is a plethora of great people here with great help and support, so if you're unsure, just ask.  We'll always steer you in the right direction!