Pete,
It's definitely an interesting discussion, and nobody is really wrong, no matter their opinions on it.
I personally believe there's room for both showroom/garage queens with immaculate paintjobs and matching serial numbers all around, and for kitbashed restorations with new engines and modern tires and such.
I'm not all that concerned about the monetary value here. I'm looking at taking some relatively cheap CMPs that are already missing several parts sitting in a field and trying to breathe some life back into them. Here's what I may be working with, if everything falls into place for the new year:
The thing is, while I'm definitely not bad with a ratchet set and an airbrush, I'm not a professional. Not even close. I don't even work with cars for a living, I fix computers. I'm doing this for the experience and the shot at getting a piece of history rolling again. I couldn't build a museum-quality replica even if I wanted, especially not with a pair of CMPs with no beds and engines of questionable quality.
But there are already plenty that HAVE been preserved-and I'm doing these a lot more justice getting them back on the road with different engines and modern tires and such then letting them rust into scrap or letting them get carted off to the scrapyard where they'll be crush and sent to China and melted down to make Buicks.
I'm not doing this for the show aspect so much-the closest one to me would be the Edmonton or Vancouver shows, and I don't own a vehicle that could tow one down there anyways. Plus, I have a natural disinterest in 'trailer queens'-these things were meant to run.
Since I'm looking at picking up two that are, at least mechanically, intact, I may try out both routes-take the one in worst shape, put in a slighty newer engine and whatnot and try it at modern speeds, and try and keep the better one closer to factory specs.