As for restoration, the one thing you NEVER want to get anywhere near a period piece of furniture is sandpaper, stay away from sandpaper,lol. (yes, this means the dings, dents, etc will still be visible after restoration, so what?)
As for the top being split, thats really kinda normal for old furniture of that age and earlier, the good news is, its usually an easy fix with elmers type glue & a few clamps.
As for value, these stands are normally listed at auction in the $200-$600 range, sometimes they bring less, sometimes more, MUCH MORE. Country examples in tiger maple & very good condition often go for thousands, ditto some big city examples that are finely crafted with inlays & delicate turned legs that are fluted and built from exotic woods.
These stands (both Sheraton & Hepplewhite) were the end of the line in hand built furniture in America. By 1850, steam power came along in a big way & revolutionized how furniture was built here.
This type of stand is very functional even today & offer beginning collectors a chance to own a period piece for not alot of money.