Sure, hotrodding is taking something less desirable and turning it into something more desirable. I dig hell outta the idea of transplanting a 'Vette drive train and suspension into something else. I dig hell outta sleepers. But it should also be said that just because something can be envisioned doesn't necessarily make it a good idea. And I honestly believe a Del Sol/'Vette for a first ever project by someone new to it all, w/o even garage space to work in, falls into that category.
I'd feel a lot better endorsing a less-ambitious project (V8/S10, for an example) as a first time project, than jumping well and truly into the deep end of car building w/a Honda/Corvette merger.