Worthy of being a project?

[Old Chevy Mech]

If you are trying top make a show truck out of it The road will be long & very costly IMHO.
If you are going to make it a solid daily driver/nice old truck then go for it.

I've been welding parts on my truck for years and replacing worn out mechanical stuff and everyone checks it out regardless of its "not so perfect" bodywork.
If it were me and it were my project...first make sure all the body parts I'd need are assesable. Then if they were (meaning that the rot doesnt go too far beyond the reaches of the repair panels) I'd invest in a gas Mig welder and a few other body working tools. Then I'd start getting it mechanically sound & reliable. Once all the heavy wrench turning is done, hit the electrical, then last the body. Thats just my way, not necessarily the right way.

Frank