It's like the old saying goes, anything can be saved just depends on how much money and time you want to spend doing it.... For the effort and cost that I see, your better off buying one in better shape, spend now for the better body than spend more later trying to repair that body. That said to me that's a good candidate for a race car. Cut the floors out, weld some rec tube down the inside the rockers and go to building....
sold one just like it 4 yrs ago on ebay. I had one bid and sold for 5k. frame had rot and it was disclosed. it was yard art..........