Definately worth it. I bought mine in similar condition for $350. If you buy it for parts I'm looking for the rear transom trim that goes across the back. Heck, that'd pay for half the cost of the boat!
Original steering wheel is a plus too. They are easy to repair since they're black. POR15 and some other places sell a resto kit cheap for the hard plastic wheels.
You've got at least $500 in parts. If the windshield isn't broken, ect. More to restore than to find a nice original but still a lot of potential.
On a side note: Anyone know if that windshield gasket was white and faded to grey? All I've found is white as a Taylor replacement for mine. Taylor made the windshield originally and they can't reproduce btw. I called last week to ask since they're not far from me.