snakehunter ...
I'll chime in with the rest of the guys, welcome!
Please keep us posted as to your project and if you need any advice, there are a lot of extremely knowledgeable folks here to lend a hand.
I don't know how the money end of things will work out for you, but if you are a hands on resourceful car guy, it looks like a very worth while project.
The hardest thing will be when the car is rebuilt and back on the road ... is thinking of a suitable vanity plate, perhaps ... WATRSNK