1968 Barracuda fastback..formula S 383/4spd..Restore or not?

I say build it as you see fit - you are already saving it by the looks of where it currently is. Have fun, build yourself a car - not someone else.
Of course it is his car, but why would you cut up probably a pretty valuable car, he probably could get a good dollar for it the way it is and buy probably better shape non muscle car (/6-318) to turn into a race car.