Tom,
I think rifles like this are neat. It may not be the peak of prewar craftsmanship but an interesting rifle none the less. The trap buttplate is not of the same quality as the grip cap but both are very cool. The builder probably spent many hours pouring over magazines and catalogs of the day before ordering the parts to build it on a limited budget.
In my opinion, the rifle needs a little bit of work to freshen it up but I would keep it together as you received it. I see it as a time capsule.
Scott