If it's never run and the grease is a quarter of a century old then strip, clean and regrease it before building the wheel.
Back on topic, do DMRs still have the 2mm hex grub screw just inboard of the inner bearing? It's a handy grease port if you have a needle grease gun...
I think so, and they also come with a syringe of grease to use in it. Not as good as grease gun obviously but better than nothing.
Re Campag hubs. Best to clean and regrease them like Tors says. The lube port will allow you to spray GT85 into the hubs (best to spin them awhile too) a couple of days before stripping the hubs; this will make cleaning the dried grease somewhat easier.
FWIW it is pointless trying to set the bearings in a cup and cone hub before the wheel is built; the reason is that the spoke tension elastically deforms the hubshells and this throws the adjustment off.
Final adjustment is complicated by the fact that a well tightened QR squashes the axle by about 80 microns or so, which is a country mile in bearing adjustment terms. Basically if there is no free play with the QR loose, the hub bearings are set too tightly and will be under a very high preload when the QR is tight. You won't feel this with good quality hubs, because the bearings will still be smooth, but that doesn't mean you are not wringing the life out them.
The correct adjustment is a little free play that just disappears when the QR is used to tighten the wheel in the frame. You can use a thing called a hub vice (*) to facilitate this adjustment; it allows the hub to be adjusted whilst the QR pressure is applied, and you know you have got it right when you have no free play with the QR tight, but there is some with the QR half-tight.
Hubs that are so adjusted will (if also kept lubricated adequately and free from contamination) spin freely for tens of thousands of miles. Even fairly inexpensive hubs from Taiwan that are used on OEM wheels will last OK if thus adjusted.
Having carried out various tests I have come to the conclusion that most hubs do not die of natural causes; they are murdered. 99 times out of a hundred if you pull a hub apart and the cones are pitted but there is no sign of water ingress, the culprit is that the hubs were not adjusted correctly.
Sadly most bike shops don't know how to do it correctly and most customers complain if they feel a little free play in the bearings when the wheel is out of the frame, even....
Ho hum....
(NB (*) which is not the same thing as an axle vice even if some folk use the same name for that.)
cheers