-Greg and others,
Excuse the rough (attempted humorous) reply but I have been going though a
resto for over two years of constant work and am buried in the bus. I have
done everything possible to do it correct. It even sounds like the bus I
started with was in slightly better shape than what you are starting with.
Very seriously, I recommend saving your coin and actually waiting for a dry
straight '66-'67 Westy to "pop up" onto the scene. There recently was a '67
Westy poptop advertised on the WWW (Montana) for $3800.00 that was
supposedly near perfect. Running and driving. Adjust for what other folks
try to pass off as "perfect." Mark L. at the Bus Barn in New Mexico (505)
246-8834  sold a '67 Westy last year to a kid in Phoenix for the $4,000.
range w/o motor. I recently saw it at a show. It was very original (minus
the replacement motor), very complete and pretty sweet minus a dented
driver's door. I figure that the kid is thousands of dollars ahead of me and
already on the road.  I have seen several '67 Westies come and go during the
resto process of our bus. $400.00-$6,500. Even at the top I would have saved
tons of time and  money in "net costs" if I had nabbed that one. That
particluar bus went to Japan. Our Japanese investor/exporter friends don't
buy junk.

If you can grab the bus that you have in mind for cheap and as a  parts
donor  then I recommend it. You definitely will need a parts source.
Guaranteed. 

Otherwise, if you plan on really doing a true "restoration," be prepared for
an expensive and rigorous process.  I can not say enough about the benefits
of starting with a dry, straight bus!!! You of course will save hoards of
cash if you happen to be an expert welder, bodyman, painter, engine and
tranny builder, electrician, and guru insider exporter of NOS and rarest of
the rare parts and vehicles. If you just want to have a running driving fun
vehicle you can get by "relatively" inexpensively and count on the usual
break-down repairs that most of us go through.
Good Luck and best wishes,
-ellis aka Rusty VanBondo