As long as it is a manual yes. Basically because at that price one could sell the shell for not much less than that. The rear end would get a Torsen T2R and 5 lug axles, the transmission would get new synchros, I would be freshening up the engine anyways so the blown head gasket is not that big of a deal. The lower control arms would get new ball joints and poly bushings. I would use 96+ spindles, an 03 Cobra rack, and Cobra brakes. Taking selling the shell into consideration and the price of the car now and what work I would do anyways I think this would be a good donor car do a Factory Five Cobra or Daytona Coupe. But it is all speculation anyways because I am not going to be building a FFR anytime soon. But just for posterity's sake this would be what I would want to use the car for:
http://www.factoryfive.com/table/ffrkits/coupe/375web.jpg