[Trackrash]

Aside from a complete nut and bolt restoration you can think in terms of these cars in their basic components. Assuming your car is basically rust free and you are not wanting a color change, I would just attend to the issue at hand.

There is no reason why you can't rebuild the trans and be done with it. However, with the motor out it may be time to take care of some maintenance. How old are the rubber fuel lines on the motor? Good time for a valve adjustment? Fix a couple of oil leaks? What is the clutch like?

To answer your question about the weeping cylinders, when you adjust your valves check for broken head studs. Now would be a good time to check. Otherwise that looks to be fairly normal seepage.

If the other systems are in good order, like brakes, suspension bushings, or shocks, leave them for another project. If it ain't broke, don't fix it.