is it worth it? if i prefer that vintage sound or should i just buy a more expensive strat that already has a nitro finish?
basically would i be taking a big risk that i could ruin the guitar if i stripped it?

I seriously doubt its worth it. It won't ruin the guitar, but its an expensive process that you'll never get you money back from. Unless you'll playing really loud but clean, you'll never notice the difference.

Go to a music shop and try out a Nitro versu Poly finish.

If you have never done it before you should take it to a pro. Applying a proper finish is not as easy as it sounds and the results could be disastrous if you don't know what you are doing.

The difference between Poly and Nitro is not some earth shattering difference. Yes it does feel and play a little different, but a poly finish won't keep you from attaining classic strat tones. I have examples of both and I swear I can't hear much of a difference if any. Stripping poly can be a PITA, and applying Nitro takes skill as well. Much more trouble than its worth IMO