Steve, It is worth what he's asking and there is a lot of work to still be done. As SATX says it will cost a lot to get it finished if you have someone else do it. It's a lot cheaper if you do it yourself, if you know how. I'm restoring a '53 18' Resorter right now. I started the thread in the projects section last night. If I could have bought mine for that price in the exact condition as the one your looking at I would have done it in a heartbeat compared to the one I bought. Unfortunately I did my homework after I bought it. DOH!
Anyway just to give you an idea, a rough cost just to have a 3M 5200 bottom done alone would be around $15k.