I have an MGB GT 1972, I use it every day and have done for 5 months. Parts are cheap and you can fix it all yourself.
My advice from someone who has done it and still uses it is go for it.
So much fun to drive and a lot better then the box cars. There are loads of people to help I have the names and numbers of quite a few.
If you want a list of things to check out just send me a mail, or I will stick it up on here.
This is mine, she's called Penelope.
I've done a lot of work to her and the stupid fibre glass splitter has gone.