I am doing up a similair 120Y, in fact, the colour of yours is the colour I want to make mine. I have no experience with mechanical work (other than basics like oil etc) and no welding/painting etc. However, with the help of Google, and asking people, using forums etc, talking to mechanics, so far everything is going well.

If its only worth a $1000 to you, then why not have a go. Worst case, part it out, you will get your $1000 from parts alone.