And just so I am clear here...a 2506 cast/stamped RA block..31 heads, carb, manifolds, crank, RA specific items.....pieced together, he would be looking at $12-15k...RAII, upwards of 25k...just for the engine.
Now factoring in the resto costs, lets play with $15k for that...add in 41k for the car, 15k for the engine...2k for an M-21..
$73k
When all said and done, the value of it, when done, 0 miles...$48-55k.
The other way to look at it is you will spend $40k- $50k for a new car which looses $10k of value the second you drive it off the lot plus the amount of added interest if you have a loan. A first generation bird will hopefully increase in value.