Personally, what you have described as depressing we all find rather exciting lol. I really cant think of much better than having a day off and starting work on the car. To me its a little depressing when i look at it and theres nothing to do for once. So i end up washing it just so ive done something. My first F was pretty bad, holes in roof, red paintwork had gone mostly pink through fading, bad scratches and interior was worthy of the bin, it actually ended up on a bonfire! But what i enjoyed was seeing her improve with every little job i did and thats how i learnt about the cars along the way. As for cost, i did mine pretty cheaply, a lot of elbow grease and asking the kind folks on here for info and they ALWAYS delivered saving me time, money and frustration. Pop a few pics up of the major items and give us a chance to help before you scrap.