I went through this in my head in November 2013. We concluded that the best answer for us was a new car - very similar cost to change. If this will be your only Morgan, then the practicalities have to be born in mind - we were not prepared to be without a useable car for long periods while the work was done (either by me or someone else).
We did the deal with Allon White in mid December 2013, delivered the old car to them on 19th December and collected the new car on 11th February - the gap in Morgan ownership was sufficiently short for the time of year.