Stumpalama-Congrats on the purchase!
I'd have a look at it... I wouldn't put myself in the same league as @OTRAMM. But I do have 22 years experience with my 40, a DIY frame off resto that still looks decent, and several, some what complicated, modifications under my belt that should qualify me to give you a solid assessment of the current condition of your Cruiser and to provide advice on options for the way forward.
Much appreciated and yes, sounds like you're very well versed! Will shoot you a PM.