I think that some of the other respondents do not know that you have already completely rebuilt your 240D and called the project therapeudic, or something like that.
If I know where you're coming from, and I think I do, a project like this would be good for you. However, the rust on this car bothers me more than anything. Maybe that's just me because we don't have to worry very much about rust in Texas, so it's easy to find a rust free car.
If you need some more therapy, I say go for it.
Best of luck,