Had a look at the Midget today, even took 'er for a spin. It ran good and the owner had obviously put a lot of work into it. I did however, see the new paint bubbling up along the bottom of the rear fenders so there is rust under there for sure. I figured I'd have to fix the rust and repaint and for $5000 firm I decided not to buy.
However, I also looked at a running 74 MGB for $1600. Not bad shape... a fixer upper for sure. Rust in the rocker panels but the floor and boot are in pretty good shape. I am considering it. The drive train is in very good shape.