I don't want to put you off what could make a very nice car but I feel I should tell you about a current project off mine.
Its a 1990 Alfa Spyder, one owner and not used for 10 years (stored inside) Its only covered 9,000 miles!
As you have said, rubber parts have to be replaced along with an overhaul of the braking system (probably a fuel tank also required)
There have been a few electrical problems,
Mice
Relays
Fuel pump
The clutch is going to need work, all fluids will need changing.
The compression is down in one cylinder so the head will have to come off for investigation.
Once running and driving there will be teething problems.
When the car is finished it will be a classic car with original paint and no welding!
I wouldn't like to try and sway you one way or the other, Just trying to give you an idea of what maybe required as standing around does them no good at all.
As I often say though, at least you know this needs work. You may buy a different car that appears better but you will be doing half this work soon any way!