It depends on where he is located.....if he is in California, that car is a throw away. That's whay I asked where he lives....
If he is back east, has a lot of time on his hands, is a good welder, it's a limitted edition, and/or he has the willingness to do it for the experience....go for it....
You have to face it....that car will far exceed it's finished value in repairs. In my experience that car is a donor vehicle.....there are too many rust free cars available for 3,000 or less to mess with that.
But hey....it's YOUR ride. Do what ya want....