Hi and Welcome to the Iboats.com dry dock, bud450r...
You are asking the one question that only you can answer...
The best answer I could give you is to ask yourself several questions...
Is the price right?
Do you love this boat?
Is the engine and drive working or worth spending money on?
Are you willing to take on a huge project that can cost a lot of green and take up all of your spare time?
Do you have a place to work on the boat?
Do you have a bunch of tools, or are you willing to buy them?
Do you have a Family and are they 'onboard' with what this project is going to require of you?
And, I will repeat...Is the price right and is this the boat you have always wanted and are willing to restore and keep for many, many years of enjoyment for the absolute lowest price you could ever get a boat like this and know that it is probably built better than the manufacturer ever did?

If you can answer YES! to all of the above then my response would be YES! it is worth it...
Keep us posted as to what you decide...and, if you decide to restore it...You are in the best place on the interweb to get all the info and help you would need to do so...
Best of Luck and Have Fun!
GT1M