Hi Wayne,
Be ye not discouraged nor faint of heart !
There is NOTHING that cannot be restored or brought back to original. All it takes is patience, time and money.
If you can handle a set of wrenches, we have the expertise to walk you through whatever the path you take.
This 41 year old bike is a low "matching" set of vins.
There is no such thing as bad pieces on an early sandcast.
Everything about this bike is good.
From a collector's standpoint, the 578/E742 combination is quite desirable. Well worth every penny of what you said the asking price to be.
In an attempt to squelch your doubt, anwering your question, "The bike is a very viable project, if you don't buy it, you'll miss a great purchase!"
If it were me, i would be "robbing the bank," or "selling a kid," so to speak !
The bent fins are no problem. Using MAP gas with a propane torch head, thoroughly heat up one fin at a time, using a pair of wide flat jawed electrical type pliers, you can move that fin back to it's original position. Once the aluminum is brought to a working temp, using a set of previously mentioned pliers, get a good grip, slowly exert pressure and you will feel the metal (fin) move slowly into place. The cracked fin should be able to be moved back to original position so as to not notice any glaring defect. A good welder can replace broken fins.
Neither my 232 or 4363 were as good condition as this bike. There are many approaches you can take to getting it back on the road, anywhere from making it all correct and road worthy to a full restoration. You can always make it road worthy, enjoy it in it's unrestored condition, buy and save up parts for a restoration at a later date.
Appears to have wrong kill switch (red knob.) Funky horn.
Has a 17 litre tank. Smooth ferrule oil lines. Ringless brake reservoir. Short ring nuts on gauge cable. RH mirror stem appears rare 11mm.
Dual disc brake is original parts, really a desirable setup.
I would not hesitate for a moment to buy the bike. Tell the owner what it will take to make the bike road worthy, what it is missing to make it complete and strike a deal !!!!
If you decide against it, post the owner's contact information so a club member can buy it.
Or, buy it to sell and realise a nice profit.
The bike deserves to be kept whole and saved before it rots into oblivion.
For God's sakes man, buy it, before someone robs it out of your back yard !!!!
If you truly decide the project is not for you, at least have a hand in making sure the bike gets a good home with a clubmember.
This bike deserves more than what it is getting now.