It's definitely worth it to get it serviced, but I wouldn't trust just anyone who claims they can work on a Rolex to do the job. A local watch maker may say he can do it, but most likely he is farming it out to one of the few real pros in the US anyway. Might as well cut out the middle man.
Since it was handed down, I assume it's vintage. Any idea of the model #?
My other hobby is vintage watches, although I admit, my Rolex knowledge is lacking. Those collectors are a whole other breed.