In a nutshell, I think this car is an excellent candidate for a complete restoration, providing there is no rust in the rear frame rails or suspension support structure. Jack up the back of the car and use a hammer and Phillips screw driver to pound the lower suspension support tubes and the webbing between them to check for rust. Also pound the the screwdriver into the underside of the frame rails. You should hear a solid metallic sound, and the screwdriver should NOT move the steel or go through it. Most of the rust starts on the inside and is not visible from the outside. That's why you need to use a hammer and screwdriver. If the steel gives or the screw driver goes through, then you have rust, and it's an expensive proposition to fix it.
Check out these albums for some examples of what I'm talking about:
http://s225.photobucket.com/albums/dd303/garth66/2006-0...ro%20eBay%20Pantera/
http://s225.photobucket.com/albums/dd303/garth66/2006-1...n%20Mateo%20Pantera/
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