It's a very rare car and I think it should worth restoring it ! If you also think a rare car is worth restoring it then go for it . A person whom I know bought an E Type and it was a flivver too when he bought it . He even made a couple of upgraded and sold the car for a great mazuma !
Your car is rarer even than E Types

 

Hi bwac, not sure if you'd be doin it for the right reasons buddy.
I think restoration projects are usually done for the love of the car and any profits are to a degree, secondary!
But, if its sumthin you like doin and stand to make a few $$$, why not I guess?

Jim

 

I really don't see how it could be worth it money wise restoring the car. People put fortunes into restoring a car because liek Jim said they love them, then maybe they sell them for a lot but usually they lose money I believe. Plus, your talking restoring a car and then risking only getting 8,500...plus does it run now, who knows if it could even befixed if it was in a junk yard.
How much you pay for it and put up some photos