I've been toying with having a Ponton project car. I haven't even sat in one since I was about 3 when my dad sold his to get a Ford "Country Squire" station wagon!!
Two cars have come up on the radar locally and a rough one is in a junkyard nearby. Are there any trouble spots to look for??

Join the ponton group at http://autos.groups.yahoo.com/group/ponton/ and ask questions and check the archives. There are about 300 ponton owners on that list with an incredible amount of info. Also snoop around for awhile at http://www.mbzponton.org/index.html.

Watch for rust, rust, rust.

Len
'59 220S Cabriolet

Generally speaking, the least expensive route to reviving a car of this age would be to buy a rust-free (relatively speaking) candidate from a dry state. What you would spend in plane fare/shipping would be a pittance compared to the cost of reviving a semi-rotten bodyshell.

IMHO, few Mercedes sedans will appreciate in value to the degree necessary to recover the cost of an extensive restoration. The least expensive Ponton will be the one that has already been restored and is now offered at a market-correct price, i.e., let the last owner take the financial bath.