Is it worth picking up? yes... (within reason: <$1,000)
Is it worth restoring? maybe (numbers match? engine rebuildable? as stated above, it's a cleveland, and if that didn't come in the originally, you're probably not able to ask the really good "barn find" prices.
AND, be very careful... if something is sitting near where the ph level is either very acidic or basic... sulfur from the coal, near railroads depots or roundhouses make the ground excellent for growning pine trees or blueberries... but for storing mustangs... you might just go with a dynacorn shell if you're not into spending a TON of time welding in sheet metal.
I once found a very similar 67' Mustang coupe that looked complete and with minor work would be drivable... however when the owner shut the trunk lid, the rear shocks were attached to the floor via paper thin crispy sheet metal and pulled through the floor, the car would then bounced like a basket ball... Oh and then the drivers side door fell OFF the car and onto my foot, when I popped it open. I just stepped away when that happened.
Sweet find, I hope it's not cheesecloth..
