race, restore, or sell!

[serioussubaru]

Hi everybody!
I have a 1983 Black 944 that I got in a trade a few months ago.
I've really been enjoying it and have done some autox and long trips/tours in it.
The car has 109k miles.
I had to replace the master and slave on the clutch after it started pissing fluid.
The body seems to be immaculate. Everyone who sees it can't believe it is from 83.
so now the fun part,
the radiator is rusted solid so the car is always overheating, which doesn't seem to effect performance don't ask me how I know, I am a very bad person.
The A/C doesn't work. The blower fan gave up. The dash board has major cracking, the drivers seat needs stiching, and the shift knob/boot needs replacing. Oh and the tires are 10 years old! Oh and the clutch started slipping.

So here are my questions...

whats the car really worth? The guy I got it from didn't have the new problems and was looking for around $3500, Nada average seems to be around $5k. Most guides suggest you shouldn't pay less then $4k for a 944. Obviously the economy is a little rough now but if the planets align again what am I going to get as is vs. fixing whats wrong with the interior and mechanics?

I've looked into a lot of the procedures pertaining to the work that needs to be done and I am an avid back yard mechanic so I am taking labor costs out of the equation.

I'm trying to determine the direction to go with this car. I enjoy taking it around to car meets where it might be nice to have a really good example of the first imported year of the 944. On the other hand I enjoy a bit of Auto X. I have a subaru that is getting a turbo transplant that would also make a good racer though. A quick look at racing Junk shows that you can get 944 race shells for short money.

So do I fix whats wrong and race?
Fix whats wrong and restore?
Or sell before I sink any more of my hard earned cash into something with little sentimental value?