1966 Valiant...should I part or fix it?

Simmer down!! haha. I didn't check out the cop thread, so its kind of irrelevent to me, I just check this thread to help me make a decision about my car. Nobody on here is going to hurt my feelings, so all of you guys are fine!! I really would like to practice my welding skills, fabricating skills, etc, but...between my fiance' and I there are 4 kids, all under age 9, a dog, and full time work, not to mention I will be going back to school (at age 31) soon. So, I won't have much time to fix the Valiant. I would love to see it with minitubs, relocated springs, one of my extra 360's and a 4-spd...but I think it will rust away before I get to it. By the way, I don't have a garage. That is what is bothering me the most...I see potential in everything, and I hate to part it out because that just means one less 66' Valiant out there, but then again, money and more time for the kids is always nice. I think I am still leaning towards parting it out.