Pretty much everything said above is correct.
However, everyone missed one important answer.
These old bows are shooters. If they have lasted 40-50 years without cracking up, there is no reason to expect that they won't last 40-50 more, ifproperly cared for and not abused.
The main thing about a bow that you just acquired, is that you don't know how it has been cared for. Start gently as was stated above. Check for splinters, delaminations, bad tips, etc...
Once you are shootingit, it should be fine. Form now on, keep it stored in a cool, dry place. Away from excess heat and humidity. Store it hanging horizontally on pegs.
ENJOY IT.