Worth it or not?

[chumbucket]

Looking past all the cosmetics, if the hull checks out; why not? Lotta work to be done though.
Is that a Cox trailer? Looks like one. If so, you should be aware that they are getting very difficult to find replacement parts for. When rollers and roller brackets need to be replaced, you generally need to be a little creative in making other types fit. Certainly not a deal killer unless they need to replaced right from the gitgo. You could be looking at several hundred right there.
You've got to decide how much work you're willing to put into a boat to get it for the right price. Some people are more comfortable spending a bit more and not be faced with a "project" boat. If you like that sort of thing, pull the trigger and welcome to the fold. 8)