I'd hate to see what you guys think of a lowly 70T.
My first car was a 64 1/2 with the 260 V8. Guy lied, said it just needed valves, in the end the motor would had to have been sleeved and rebuilt from the ground up. Even though I had the money (worked 40 hour weeks during high school) my dad said to get rid of it. I lived and breathed Mustangs for 3 months while we were sorting this out. What a tragedy now that I look back at it, probably a $50K car today that I got for $500. Just needed carpets, and of course the motor.
Anyway, on this car, who cares if it's a lowly 6. if it's relatively rust-free, it will never lose it's value, and very easy/cheap to upgrade. and it's a very cool little car.