Not at all. Ditch the old hose and get some new hose, it's cheap and you'll know it's clean. All you will need is the ball lock fittings to hook up the keg and to your faucet and gas regulator. A study of any "kegging kit" from one of the on-line homebrew retailers will give a nice breakdown of what would be needed in the kit and you will see you have almost all of it in your hands. (KEGGING EQUIPMENT @ Williams Brewing
) If you have a Local Homebrew shop. Take in your equipment and let them know you want to buy the hose and a couple fittings from them and they should be more than happy to help you (maybe buy some ingredients too while your there.)
I know there are also lots of threads regarding your topic in the Bottling and Kegging Forum on HBT. Congrats on your find.