YES, YES, YES!!
As long as it is structurally sound, and if not......well, she is only 12 long, so should be easy to fix. If she were my boat I would certainly restore her to at least sailing condition. Even on the older Widgeons (like my old one that had wooden seats) there is not much that can really go bad (permanently at least?) and yo ucould never buy a comparable new boat for the cost of repairing an old Widgeon.
Rudy had one out in front of his shop a few years ago, $200.00 complete. Well ,complete as in all the parts were there, but "some assembly was rerquired". I would have bought the boat on the spot if not for my being out of work at the time and having no money.