First issue is that it's not a hardwood floor. Wood yes, but it's a pine, which was a common choice in many secondary rooms (bedrooms, upstairs hallways, etc) back in the day. I agree with much of what FIRE Me states, however I would be hesitant about trying to fill huge amounts of wide shrinkage gaps with filler. I know that, when faced with this situation in homes that I have flipped, my refinishing sub. will not do it, as he claims that the filler will work loose over time. In the end, I would do the sanding and evaluate. If you like the look, and it isn't excessively damaged or stained, put a finish on it. If not, cover it with another choice. Given the wide gaps, I think you will find a new subfloor necessary if you decide to install vinyl.