Since you are building a driver what about the possibility of buying a clean 300 SEL 4.5 and transplanting your drivetrain and whatever else would make it a nice car? The cost of the car and delivery would be less than the work you mentioned and probably a better end result. You will be painting anyway so paint it whatever you want.

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Tony H
W111 280SE 3.5 Coupe
Manual transmission

Past cars:
Porsche 914 2.0
'64 Jaguar XKE Roadster
'57 Oval Window VW
'71 Toyota Hilux Pickup Truck-Dad bought new
'73 Toyota Celica GT