Mine had been sitting for 5 years when I got it. drained the oil and gas and pulled the plugs. Squirted a few tbsp of light weight oil in each cyl and let it sit. I could already see that the valve cover gaskets were leaking so I pulled the VC's and tapped each valve lightly with a rubber hammer - just enough to move it. I wanted to make sure that no valves were stuck.
Then, I turned the engine over by hand a few times and watched all the valves work. I bought a new battery, swapped the antifreeze, fuel filter and oil filter.
After all the new stuff and 10 gals of premium, I cranked it with the computer lead discoed, and the spark plugs out, till there was oil pressure for about 30 seconds. Put in new plugs and cranked it up.
Fired right up, haven't had a problem since. I did flush out the gas tank after about 3 months... not much came out. I was really surprised how easy the gas tank came out. Changed the pump while I was there too.
I still haven't done anything with the tranny fluid
but I haven't put a 1000 miles on it either.
Oh, I put a quart of tranny fluid in with the first motor oil change. I thought I heard somewhere that the tranny fluid will help with some of the sludge and build-up. I ran that first oil through for about 150 miles then changed it.
Good Luck whatever route you go...
Vic