Original hardwood floors under this carpet - jackpot or nightmare?

So I've been in my house for about four years now, and I've always hated the carpet in the living room and hallway. It's this beige, low-pile stuff that shows every single stain and just feels dingy no matter how many times I rent a steam cleaner. I've been toying with the idea of ripping it up and seeing what's underneath, because the house was built in the 50s and I know a lot of homes from that era had beautiful hardwood floors that people just covered up when carpet became trendy. I finally worked up the courage to peel back a corner in the closet to take a peek, and lo and behold, there's actually wood under there! The problem is, I have no idea what condition it's in, whether it's salvageable, or what it would cost to refinish it properly. It could be a gorgeous find that adds value and character to my home, or it could be a total disaster with water damage, pet stains, and deep scratches that make it beyond repair. I'm kind of terrified to pull up the rest of the carpet and find out, because once it's up, there's no going back. I've been trying to figure out what steps I should take to assess the situation and whether I should call in a professional to evaluate it before I make any big decisions. I've heard that working with a good team can really revive your older Los Altos home and bring back some of its original charm, which is exactly what I'm hoping for. Has anyone here gone through the process of uncovering and refinishing old hardwood floors? Was it worth the effort and expense, or did you wish you'd just left the carpet and moved on? I'd love to hear some stories before I start tearing things up.