If you can rig everything correctly, definitely take it out and try to sail it! There's no point in letting it rot. :) You just might get hooked; then it's just a downward spiral of throwing $ at it.
Make sure you have an uphaul rope!
It's how you'll raise the sail out of the water when you get on the board to start. Watch some beginner videos on youtube if you've never seen how to windsurf. Or get the Beginner to Winner DVD, it's pretty good for starting by yourself. Read up on some basics of wind and how sailing works if you don't know.
I've seen a few people sail with similar old gear and having lots of fun. These Aussies think they're the bees knees with their fancy wind and waves. Down here (relative to you) in Florida's armpit, we have none of that but still love to sail! :)
As mentioned before, try the
wx.iwindsurf.com:443/ forums. They're USA based and you could find local NY windsurfers who could help you out.