On a long enough time scale, everything is a wear item. Frame, fork, hubs, rims, seatposts, saddles, etc -- they all wear out. Just replace the stuff that's currently worn out. If you ride and enjoy the bike, you'll replace the other stuff in time.
For a quick refresh, I'd install new cables, housings, and bar tape. Clean everything so you can find hidden problems (cracks, rust, broken parts, dents, stripped fasteners, etc). Check the chain, brake pads, and tires for wear. Grease or replace any bearings that are dry, loose, or rough. Lubricate (grease, antisieze or carbon paste, as appropriate) the seatpost, too.