That sure looks like a big job HRK, I would look for something a little closer to running at your age and skill level. I would hate to see you lose interest because of the mountain of work that car will need. I think it will depend on how much help you will get from family etc. Lets not forget the dollar investment it will need either. For the money and time you are going to sink into that car you could purchase a 32 Ford kitcar complete and assemble it in less time.
It is a nice car but I shudder when I look at cars that far gone now that I am older, there is a couple of years worth of resto involved with that car. Its your cash and time however and you would certainly learn a lot from that project.
Good luck with whatever you decide to do.