[Macroni]

Fish,
This is a tough one. Sounds like major work on the body, mechanical freshening and all the unseen rust issues that will pop up once you open the car up. The car doesn't have an enormous upside either. In excellent condition it would be valued in the $30s. I would have to say under $5,000. This would give you enough room to properly repair w/o being upside down. My budget as a non DIYer [who is currently restoring a 69S which had similar rust issues]:

Body repair: $6,000
Strip & Paint: $8,000
Chrome Re-plate: $2,000
Mechanical: $5,000
Misc: $3,000
Purchase: $5,000

Total: $29,000.
Tighten the numbers as you wish.....