Track doesn't look to bad really, I'd try and clean that with a green or red scotch brite pad.
DO NOT Use STEEL WOOL
You could also wipe it down with some mineral spirits or the like.
Make sure the pins are clean and tight, you can carefully pinch down the non pinned ends by using a needle nose pliers on the middle part of the rail, ie between the base of the rail and the top circle part. Just push the pliers in so that you make the top circle part slightly smaller in an effort to tighten the fit of the pin into that hole. Be careful and don't crush the rail. It works well for me, but I am sure others have good methods as well.
Transformers are ok, but smallish. depends on how big a track you plan on setting up. Also depends on what size of engine you will run.
Bigger transformers can be had for a decent price, usually you just need to replace the cord an clean them up. Make sure they don't have a burned electrical smell and they are usually ok. If your not comfortable messing with wiring and the like, buy a new one or have some one else work on them for you. Really not much to it though.