I had a '72 MGB for one year in '88. Cost me $1500, didn't put much money into it, sold it a year later for the same amount.

It was really fun to drive, handled like a go-kart, despite having only 62 hp for 2300+ lbs (before I got in it), and no OD. But I got really tired of fixing things every weekend before I could go out and drive it (mostly Lucas electrical problems). Sounds like that's all been removed, so you've got that going for you, which is nice... Also it was terrifying being on the Washington beltway and looking UP at Honda Civics!

Anyway, that seems a bit steep, and you'd better take a very close look at the workmanship of the modifications. But it would be nice to cruise around in.