South Bend was a kind of working man's fly rod, but that's a real treasure for sure. Do you know what he fished for with it? I guess there's no reel with it? That could zero you in a little. A friendly fly shop might let you try it with a few different lines to determine the right weight. Or a friend who's into fly fishing.
As for repairs, it sounds from your description like it's in pretty good shape. A loose ferule isn't hard to fix, and a rewrap isn't too bad either if you find a loose guide. Lotsa folks could do it. Bamboo isn't drastically different from graphite, but given the value, sentimental and otherwise, someone with experience might be better. A lot of older cane rods can benefit from a new coat of finish too.
If you can, post up some pictures. And, Google images might get you a little closer to what you've got too.