I'm sure you'll get a lot of input, and there have been lot's of threads about this sort of topic in the past.
Unfortunately, there really isn't anything you can do to revitalize an old tramp. They are pretty durable, but at 20+ years old and with 8 years in the elements, it may be on it's way out. The good news is that a busted tramp probably won't leave you in a life-threatening situation, more just an inconvenience. Grommets may start to tear out and things like that. If you don't want to replace it, just clean it up and sail it till it comes apart.
The aluminum and fiberglass parts are pretty impervious to the elements. Just give the hulls a good look over for any suspicious cracks or soft spots.
As is announced on this forum on almost a weekly basis, you should probably replace your shrouds and shroud anchor bolts unless you know exactly when they were replaced last.
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