Yeah, dreams are worth it. It's a pretty bleak time with constant reminders that lots of us are unemployed and our long term prospects are sort of divided between another market nose-dive (the double-dip) or a long period of poor economic performance (the long recession). So having a dream, no matter how small, is worth it. Pilot a motorcycle from Alaska to Argentina? Rebuild a classic car? Whatever. It's worth it. Just ask CaptainVitamin.
As an owner of a '64 Continental Convertible, I'd like to offer up a couple pieces of advice. First off, no matter what anyone says, no matter how how tempting, the 430 MEL is irreplaceable. If its running now, it will probably never need a rebuild, ever. Nothing will beat the power and reliability-its one of the heaviest ever American production engines for a reason- not to mention nothing else will fit without cutting the structure out of the unibody frame. Tons of schlubs have tried it, only a small handfull of artisans have done it without it becoming a PCH nominee. Just rebuild that Holley, trade the nylon timing gear for a steel one, and call it a day.
Second, no matter how much work it takes, one drive makes it worth every minute. This coming from a guy who's put on <1k miles in 4 years of ownership. From a guy who spent 2 of those years with the engine out for beautification/repairs, drove it for a month and the trans overheated (probably my fault). No words in my vocabulary can describe the rush you get when commanding the MEL to do you bidding. Moving almost 3 tons of metal with the flick of an ankle. Its what Pharoah must feel like, except with limestone.
Finally, here's a couple things for you to research that I highly recommend: Pertronix Ignition, Dual master cylinder swap, and thelincolnforum.net