I hate to say it, but Uncle Bob dropped the ball on that one (or someone did).
Depending on if you have the time, that will clean up some (the wood better than the metal). Steel wool (0000) and oil or solvents. Both wood and metal. Some of the bluing that's left will come off with the rust, and that's OK. Take out a bolt or two and probably the trigger gaurd, separate the barreled action and wood, and work them separately.
It's more important what it looks like inside the barrel. And don't shoot it until you look (and oil) to see that it is clear.
You pull the bolt out (there should be a little lever or button that lets it come out the back, or some special manipulation of the bolt). You stick your index finger up near the chamber and shine a light on that finger, and look down the barrel. The pink from your finger makes close inspection of the barrel and rifling much more visible than just plain white light in the eye. Hopefully the inside of the bbl looks better than the outside. If the inside needs cleaned, you can buy rifle kits, but the best thing going these days are called
bore snakes; a special 22 caliber rope you yank through the bbl, quick and easy (with solvent).
There will be places to find (used) parts if you need/want them.
Or it can become what is known in the business as a
wall hanger. 
A lot of gun guys actually hang an old beater on the wall (in plain view). Glancing at it on every entrance, you instantly know if someone has been in there (or maybe still there). Thieves cannot resist firearms, even old wall hangers.
I'm not trying to insult Uncle Bob's old .22. (just it's custodian)
