Early vs. Late dusters

Buy the running driver with a good motor, 100%. Trying to build enthusiasm for a dead car is a non-starter.
Get the 75.
Nothing can discourage a new enthusiast faster than a project that is too daunting.
Disc brakes are a necessity in today's world. The '75 already has them in place and working.
The 360 is the top LA series engine that many people aim for. V8 mounts, K member, transmission, exhaust system ALL cost money to obtain.
The cost to bring the '72 up to where the '75 model is already will take time and a bit bite out of the wallet.
ALL Dusters are good looking cars and will sell quickly if they are priced right. Personally, I never look at resale value when I am interested in a car. I buy what I want to own.
I like the 1972 exterior styling better but I also love the 73-76 models. The '75 bumpers can be swapped for 1973 versions for less weight and a sleeker appearance.