To me it's a no brainer. Hot Rod! If it were a Speed 6 or other rare model it would be worth putting plenty of time and money into a restoration. But with a bike as common as this one it wouldn't be worth restoring unless it were more complete and in better shape.

Besides, the purpose of a bike is to be ridden and hot rods (and Speed 6s) are more fun.

Depends on the hub. An old SA AM, AC, FM or FC could be pretty racy.