Good plan, that is exactly what I am planning on doing with my old oil pump that turned out to be fine. I will rebuild it and throw it in a street car.

 

stripped, checked, cleaned, lubed and rebuilt mine..... then decided it wasn't worth the risk so its sitting on a shelf in the engine room wrapped in cling film ready to go.... what will i do with it??? any ideas? already have some normal oil pump gears as paper weights