I was in the same boat as you a few years ago. After a long debate over to fix it or replace it with a newer vehicle, i did a frame off resto including another frame. I have under $10,000 in the whole job.
Everything from the body down is new or NOS. Engine was perfect already, trans was rebuilt from GM, interior was mint so that saved alot.
Here are a few pics. Good luck with your choice.
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