If you do decide to try to get down to the hardwood, brace yourself for a surprise or two.

Do you know the furnace history? If a coal furnace was replaced by something more modern, you may find the old (huge) register openings were patched in with plywood. You should be able to predict that one from below.

If there is (or was) a fireplace, there may be burn marks around it.

The old floor may have been refinished a time or two which used to mean sanding away some wood. Could be there's not enough wood left to sand and finish again.

If the insulation and/or windows have been upgraded, that will usually mean a warmer, drier interior. The wood may have some pretty big gaps between the strips.

If a porch (or other space) was enclosed and added to the space, expect a color difference in the transition that may or may not sand out.

Old wood floors can be creaky.

Bottom line: have a Plan B.

On the plus side, you may be able to take up some wood from a bedroom or another room you want to keep carpeted and use that salvaged wood to patch in as needed.

Good Luck!