Ala,
If the cars fairly sound, has decent history and you can get hold of the car for the right money then go for it. I've recently bought a 3 door Cosworth that needs plenty help (it's white with blue and red stripes painted on with Chic graphics down the side of the doors!) This car has sat for a couple of years but it's a great basis for restoration being a 2 owner car, totally original and standard car (the 65 year old lady i bought it off had owned it from a year old!) with 73k on the clock i managed to get it for a steal and, despite it needing a full respray with a few other bits along the way, i'd still not be able to get a reasonable car (if you add up the cost of buying a useable one instead) for the cost of buying the car and doing the project.
Just some food for thought,
Regards
James