With the salty Toronto winter here, it's time for the Benz to go in hibernation...under the surgeon's knife, really.

I wanted to bounce some build ideas. My goal is to do a rolling restoration of the car over the next 3-4 years. I'd like to be drive-able during the summer and receive some remedial attention during winter. I have my first kid coming in May which means that the first batches of work will be outsourced. Both my wife and I like road trips wafted along by a burbly V8. In a few years, I`d like this car to take us on a family trip of a lifetime, reliably and comfortably.

So without further ado, I want to get some suggestions on how to proceed.

Current condition:

100% original, has probably seen winter in its youth. Parked in 86, brought out last year and gotten to a painful drivable state. Carbs are worn and missing parts, engine is strong, even compression but leaks at almost all gaskets. Suspension rubbers are very old. Rear axle leaks at the pivot bushing. Body has lost the undercoating on rear section and has surface rust on underbelly. One spot in the rear floor pan feels mushy, the rest are solid. Trunk has surface rust. Paint is an old respray but looks good save for a few dings. Interior is musty, but in excellent condition. Door seals, all wood, dash, in good condition. Needs new heater dials and core is disconnected (assuming a leaker).

The engine has to come out for a reseal. Ditto for the transmission and rear end. At that point, a shop can probably strip off the undercoating, treat starting rust and reseal with modern stuff.

For the engine, I figured I have a few choices:

1) Tear down, inspect and refresh current motor. Replace Zeniths with Webers or professionally rebuilt Zeniths.

2) Replace with fuel injected M130. Get a few ponies and some potential hassle from sourcing old FI components.

3) Source a 3.5 or 4.5 V8, refresh and drop in. Would my 4 speed manual bolt up to it?

4) Source an M110 FI motor from an early 80s car and get more power plus more modern FI. This sounds like the most involved swap.

Start driving at this point and address the interior in smaller sub-projects.

Thoughts, ideas, cautionary tales?

Cheers!