[Spits] Restorable? Your thoughts appreciated

[Mike Vasquez]

I received an additional high-res picture of a spitfire project I'm
considering.

The seller mentioned rust on the bottom of the door, which didn't
concern me too much -- door can be repaired/replaced.  However, it's
actually *under* the door -- on the body itself.

So, take a peek: http://www.digihax.com/spitfire/spit.jpg  (You may
have to click on the picture once it loads to get highest res)

I have no welding skills.  I have friends with welding skills.  With
that in mind:

I know that's hard to tell from 1 pic, but your general thoughts
appreciated.  This is:

1962/63ish Spitfire.
Engine/Diff/Trans all there, and as always, "previously running"
I'm guessing a fair amount of small (but expensive) trim pieces, etc
are missing.

Salvageable?  Too much work to be worth it?  What would you pay?

Thanks again,
Mike