Running into a pickle with my bike... to keep or not to keep?

I know, i shouldn't be complaining much as it's a 40 year old bike. But i do need some advice.
When i found this bike, it was pretty much all cosmetic - needed MUCH scrubbing down - carbs rebuilt, needed new controls, a blinker, and of course carb rebuild and tires...
the more i dive into this, the more and more i'm finding that is just going to be cost prohibitive and not the fun year project i had thought.. the more i look... the more rust i see.

i know it's all up to personal preference, but in your opinion - for this bike with 40k miles is going through all this worth it?

i'm arguing with myself mostly because i spent $750 for this, was told it ran, but the carbs were mucked up... and there are fairly minty examples around here for about 1.5 - 2ka

1. needs carb rebuild
2. needs all new cables (speedo, clutch, brakes)
3. new brake lines
4. rear suspension
5. needs replacement bolts all over the place. the more and more i look, the more rusted bolts i see
6. needs a new exhaust... the nice vance and hines exhaust was highsided onto, so the #1 cyl is crushed
7. new clutch
8. starter clutch needs to be replaced
9. new levers
10. battery

 

Sell it while the market is up on UJM bikes

 

I think I'm keeping it... Had a bit of a panic last night!

 

Panic, rationalization, acceptance. Probably missing a few steps like hysteria, regret, euphoria, hunger.

A $750 bike that needs $750 more parts and a ton of labor creates a $1500 bike that you understand top to bottom. At least that's the path I'm hoping for (rationalization!). And it keeps you away from more expensive hobbies, like bowling, gardening or home repair.

 

Of course it's worth it!

Put down the Sawzall and take a deep breath.

 

Forget costly cosmetics just get it running and riding right. Any life-scars are 'patina' and originality - you can't buy that. Rust can be halted by rubbing in Linseed oil - periodically