39 tow,
We had the same decision to make when we first bought our '52 Chevy 1/2 ton pickup. I wanted to chop, lower, and add a 350 Chevy V-8. Fancy paint and all the trick stuff. A long time friend stopped by and told us that this truck had so many original parts that it would be ashame to "modernize" it. He said there weren't many original vehicles left out there.
I took his advice and the proof came at the last car show. A young man came by with a highly modified '52. Beautiful paint, roaring new engine, fancy suspension, all the new bells and whistles. He stopped by our truck (in ancient chipped patina) and said he was so sorry that he went the way he did. Six years and tens of thousands of dollars over budget he had a truck that was one of a kind but it no longer portrayed the era gone by.
As the comment above echo, go with your heart but there will not be many originals in the future. My vote is do a mild restoration and preserve history. Your family will enjoy that old ride with stories for future generations.
Mitch
