Restoring an old oak table?

I have just bought an old oak table. I guess it could be 40 years old or so. It is quite scratched (surface scratches) and has one or two deeper small imperfections, like the wood has been slightly dug out. There is also a small hole like it has been drilled. It is also a bit rough on the edges... It has a nice wood pattern and I want to restore it back to its former glory. I suppose I need to use some kind of wood paste/filler to fill the imperfections/hole, then sand down the surface until most of the scratches are out, then use some kind of varnish etc. Is this how I should do it? Any tips on how to go about this job/what to use etc?