A rule of thumb that I have found very helpful in my search for a bike is to sum up what the total will cost is after purchasing the frame, along with the cost to "restore" it.........then multiply that number by at least 4.
Following this rule has led me to never try to "restore" a bike but to purchase one that is nice (not perfect) and service it to make it safe and then enjoy it. I am happy to leave the perfection to the restorers.
Good luck, Ben