
I have seen worse (one in the driveway now...) that is for sure. My first roadster was in similar condition when I got it. We got it looking and running well. I didn't have to replace a windshield, but I had the fun of the engine being entirely (and I mean ENTIRELY - down to the needles and adjusting screws in the carbs) being disassembled and just dumped in the cockpit. That was such a fun car. I still regret selling it (almost 20 years ago - damn age creeps up on you....)
You will have a ball rebuilding that car. It will infuriate you to the point that you will want to drop it in a vat of molten steel just to be rid of it. It will drain you of 4 times what you budget for it. It will take 3 times as long to get it done. BUT, when it is done, the first top down drive down a twisty road on a nice crisp fall day with the leaves trailing in your wake will more than make up for all of the frustrations!!