I would avoid the words "as-is" at all costs. The term means, to some, that it's not ready to move-into. It's just an invitation for low ballers to waste your time.
What I would do in your case is spend just enough to make it "move-in ready". And to do that, I'd get an inspector and fix everything that would prevent the buyers from securing a loan, for sure. So get all the rotted wood bondo'd and if it needs paint, paint it (inside and out). Make sure everything works. Make sure everything is clean. If some things are marginal, for instance carpet that's going to need to be replaced for sure, you can call it out yourself before the offer is made by putting a small allowance in the deal ("$500 carpet allowance"). If you didn't do these things, you put your house in a "dump" category and can expect a lot lower offers (unless you're in a hot market, where the houses like yours have been flipped with new countertops for megabucks). But if that's the case, you might consider a significant face-lift yourself and not letting the flipper have the money.
I have to disagree with your "as-is" idea. As-is does not designate the house as a dump, especially with old houses. It gives protection during the negotiation phase. Without as-is there would be no end to requests by buyers with an old house. In an area with 100+ year old houses as-is is the norm. As-is also protects the seller against litigation for problems found later.
I believe in using the disclosure form to point out any know defects, so the buyer can make an offer based on good information. If the buyer hires an inspector and finds other (non-major) problems, I will stand firm on the negotiations.
The property has to look good and be move in ready in order to have the best chance to sell. Spend money on paint and fix anything that makes the place look neglected.