Definitely all good points. I talked to Konrad, who is always the thoughtful one. He asked, "What is the final goal?" I don't know.
I had thought about the flight school route...I did well with my last 152. I had thought about starting up a flying club with it, namely for some local friends to build time versus buying a 172 for 125 dollars/hour. I had thought about the fun of the project (yes, I'm one of those who thinks a project of this magnitude is fun.) I don't know. Konrad even talked about a partnership...but we've both already got nicer planes than this one could ever be...(without spending waaaay more than I'm ready to). I had also thought about letting my dad buy half of the finished product (discounting all labor, of course) to have something he could fly in South Carolina...but that's a big risk. If something breaks while it's there (and it's a machine), I won't be able to fix it. But, that'll give him a taste of airplane ownership.
I don't know. It's almost more a situation where buying the plane, even at a low price would help out the seller, acquire a plane that I can tinker on, then perhaps sell it and pay for the engine overhaul and paint job on my current taildragger. I've also thought about selling this one and my taildragger and buying a Cherokee...

Okay...that's a lie...
There are lots of things in this equation. Let's say, a decision has been requested by the end of the month. If I'm no more decisive than this by then...I'll probably pass it by. But...dang if the price is right, I could buy it, disassemble the airframe, and work on one piece at a time. So what if it's a multi-year project. I have a nice plane to fly along the way. Hmmmmmm Guess I need more coffee....