the 41 Studebaker comes home today

I'd get it drivable as is and take the guy for a ride in his car.
He obviously loves the car to keep it that long.
Old cars are so simple to fix and very reliable just not fast. The best part
is short of belts and hoses every part is made to be rebuilt.
Nothing was disposable. You file the points in the voltage reg.
replace the diagram and check valves in the fuel pump.
You get the idea. They didn't throw away used parts like we do now.
Parts were rebuilt up till the 60s.
You will find yourself making gaskets from raw materials and honing
Master and wheel cylinders.