Great! Also, check out Moss for parts catalogs. The best thing about the spitfire is how easy it is to work on the engine. The whole bonnet flips forward, and you can just plop down on a front wheel to do your work. Not sure if the '63 had twin SU's or a single Stromberg carb. If dual, then be sure to buy a carb balancer.
$500 is a great price. Like others have said. U-joints on the rear axle and prop shaft. Also, make sure you fog the engine before you try to turn it over. You might be suprised that it may not take much to get it going. Oh, one other thing to check is the fuel pump which should be on the left (US driver side) of the engine. Usually the diaphragm will be wrecked after sitting for so long, and you will not get any fuel pressure. There is a little hand pump leaver there that you can use to check the operation (after disconnecting the fuel lines).
I had (emphasis on had) a 62 austin healey sprite, 64 TR4, 62 Spitfire, 66 GT6+. I am very exited for you. I would get another car, but I have no room anymore with a family and all. So now I restore bikes.
