Thanks all for your thoughts. Indeed, it is time to start getting my hands dirty. I had just hoped it would be a touch less of an all-at-once process. I've started with some minor fixes already...replacing window regulator, repairing blinker assembly, etc... but need to start getting under the hood more.

@Yak - It would be incredibly helpful to have my mechanic walk through the car with me, but unfortunately he's a bit of a crank. I think it's actually time to switch mechanics to someone more interested in having a conversation with me about the car. For the cooling system, initially we took care of the radiator - this time it was apparently a hose in the back of the engine.

@mbbuff - Although this is my only car, it is not my "daily" driver - since I live in the city, having a car is a luxury, and it is only used weekends and occasionally otherwise. The exterior is in good cosmetic shape, but the interior is fantastic. It looks like the original driver never had any passengers. It already gets a lot of attention - but most importantly, I really enjoy driving and just looking at it.

@Tomguy - I absolutely have the willingness to learn to fix it, and was one of the things I had hoped to do when buying it. Unfortunately, because I'm in the city, I either have to make repairs that keep it mobile or can be finished before the next scheduled alternate side parking, or just think ahead until I'm up at my family's place upstate where there is a garage. And I'm certainly willing to invest in tools that will help me in this process.

If there's anyone in the greater NYC area that is interested in being patient in helping a beginner through familiarizing himself with his car, I'd be happy to travel for a meet-up, and will gladly bring the beer. In the meantime, I'll be taking everyone's advice to use this forum heavily for any upcoming repairs I think I can attack myself. So, look for some more posts from me soon!

Thanks all!