I finished my 74B in 05 and it is a wonderful car. I have always had MGs and the biggest pitfall is RUST. As long as it's rust free car you are good to go. Minor rust is not a bad thing as long as it is minor. B's rust from the inside out and what might not look so bad from the outside could be trouble on the inside. Parts have a good supply and are well below P-car prices.
http://forums.pelicanparts.com/uploa...1296068736.jpg

It's my understanding that the later rubber bumpered MGB's are set up to make installing the Rover 3.5 ( Buick 215) a little easier than the chrome bumpered variety.

Oh my!

A guy around here has a MG with a hood bulge, dual exhaust, and it rumbles like a V8.

I've a '74 TR6 and it is the cat's meow to beat around town in, all summer and fall long.

Very simple mechanics and vastly over designed. You can throw these around like a horse shoe and they always stay rubber side down.

I think on the MGB they finally fixed the propensity for the doors to rust from the inside out, by your model year. I always liked those cars and there is a LOT of after market stuff available for them.