Mine's later (mid '70s) so can't help regarding the engine/box ... but bodily the same ... they are easy and rewarding to work on ... things held together with proper nuts and bolts which can be stripped to the chassis with a handful of spanners and a screwdriver.... like a giant meccano set

The body panels are easily repairable (even from quite extensive tinworm) ... by anyone passably handy with basic welding and bending. The wings are the only complex curved bits but no worse to fix than any other car wing ....Definitely do-able in a garage (or woodshed!) ... the wood frame is the only thing outside the comfort zone of someone who has tinkered with car restoration. A local carpenter's shop can make copies of any rotten bits using the original as a template. And will be able to source the seasoned ash needed.

Buying a rough runner, having fun with it and then doing a 'useable car' resto over a winter is definitely feasible.

K