How about a different take on the situation...

Get a cheap one that runs. Yea, avoid rust that looks like it might make the car structurally unsound, or be willing and able to fix that aspect.

But, get a cheap one, and learn. Get to know it for now.. When it dies, you get a good one, and use your old one as a parts car.

Expensive stuff is gonna be the 1800 specific things. Wiring, brightwork, gauges, glass... that sorta stuff. Major mechanical is cake and candy.

Case in point.. I got a rusted out '65 with about a half million miles. Had good chrome, good glass, was mechanically ok. But the body was shot (structurally was OK, good floors and ladder frame). Paid $590 for it.

I put another quarter million miles on that car, and although it's been parked for a few years now, I could have it on the road in about two hours.

Hands on is the way to learn, and in teh case of Volvo 1800, owning is the best hands on experience you'll ever get.

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-Matt I ♥ my ♂