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My question is: how far would you go,

If the car just needs an eng to be up & running I would replace the valve cover gaskets to stop their leaks/replace fuel/oil/water pump(s) and rebuilt Autozone dist/rebuild the carb & new plugs/cap/rotor/wires and run it. People have a tendency to get too deep in their first project & spend months/years on a project reworking it from head to toe as opposed to getting it up & running & enjoying it. Good luck with it

live every 24 hour block of time like it's your last day on earth