I will let you know about my brother's experience.

He purchased, also from a long time friend, a 68 396 with the 325 hp engine. M20 4 speed, 3.73 posi rear, black buckets with console, AM radio and rear antennae.  The car only had 30,000 original miles on it.  The interior, other than a new carpet and small tear in the driver seat, was perfect.  The car had been sitting since 1984, so we changed fluids, plugs and filters, drained the gas tanks and refilled with good stuff, hooked up a new battery and she started right up.  Mechanically the only thing she needed was a set of new drum brake pads all the way around and we replaced the wheel cylinders.  It got a new coat of red paint and a new white vinyl top, but there was zero rust on the car.  The only thing left is an engine detail.

My brother paid $4000 for the car in 1997.

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