Wise ones have spoken
The wise ones have spoken, and they speak from experience. These guys on here, such as Ross, have been there, done that, got the shirt. I have never gone to those lengths to restore an older boat. I value my sailing time too much, plus it almost always ends up costing much more than if you find a decent boat to beging with. No matter how close you look, how much you inspect, there will be problem areas you did not see. And money you did not plan on spending. Just goes with the territory. So, if you are interested in this boat for the joy of the rebuild, then by all means go for it. On the other hand, if you are looking for a cheap boat, that will only require your labor, and your primary interest is sailing it, look elsewhere.