The recent poll I conducted here on the barn will show that most folks will focus on maintaining the operating condition of their V8 as opposed to restoration.
I'm on a rant too. At least you would be getting something for your $5554.00, I live in a fire hazard area of SoCal. Last year State Farm doubled my house insurance. Yesterday the yearly bill came, they doubled it again, $6892.00. And If I want earthquake insurance that would be another $7000.00. People are always asking me why my collector car projects are not finished. It's because I live in CA!
AND these cost are IF you are lucky, IF you use "some" restoration shops you can double the cost you've posted here because a year later you have to have your car completely repainted as the paint job didn't last.....AND even double isn't enough to cover the redo price!!!!! ASK me how I know!!!A local friend restored a 1959 Caddilac total plating cost from advance plating for all the exterior and interior chrome was $42k. Paint Job and metal work cost him $64k Upholstery cost him $31k.. He paid 35k for the car has spent another 150k and still isnt finished. This hobby whether it's a Model A Ford or a Mustang or a Early V-8 is becoming unaffordable for the middle class younger crowd.