As projects go, they are not that hard to bring up to scratch if you find a good shell, but bodywork is usually a thorn in the side you must pay out for. Some have had shoddy repairs to the body and end up rusting after a year as well. I'll be sorting mine later in the year through a very good bodyshop thats done a few Willies in the past and is used to more expensive exotica.
I've pretty much replaced every mechanical component including the engine so far, including the entire suspension system and most of the coolant system. Not had to touch the wiring amazingly apart from a few leads and a faulty rad fan due to the fragile wires failing, which was easy.