I have as much passion for hotrods and muscle cars as anybody, considering the choices I make, probably more than most people. But I'm with Jason it just doesn't make sense to do a full tilt resto on anything but Stage 1 converts and GSX's , they are about the only ones you can come out ahead on. The thought of putting $30k+ in a car kowning full well it will not bring you the same, just doesn't make sense, passion or not. If you keep it say 5years and really enjoy it then I feel comfortable with a $1k loss each year. Any more than that and I'm beating my head against the wall.
Hey, I don't know exactly how much I spent restoring my 71 GS 350 Conv (maybe $50-65k), and I really don't know what it would bring in today's market. With that said, I fear it would actually bring in half of what I spent if I had to sell. And it is a numbers matching car. The only things not are the water pump, battery and radiator...
A green 70 GS 455 convertible white top white bucket seat interior AC just sold this past weekend at Mecum Kissimmee Florida for 50 grand don't know what it look like before the restoration. If you can do at least 90% of the work yourself you may be OK if not you're better off buying a car already restored and just drive it and enjoy.
Your money, your car. Do what you want with it and if you are concerned about the price you might receive for it, don't ever sell...and then only sell it when you no longer really care about what you get for it but that it goes to someone who will enjoy it. The corollary to this is if you are worried about the price that it will sell for don't even think of buying it.
