Keep it or Abort it? Also - TRS Drive

Hello everybody,

I am sure many, if not all of us have fallen in love with a boat one time or another...

I have many things going on right now and I do not know if I will be holding on to my boat (wont be able to use it.) Unfortunately, I have only had it for 6 months as I bought it at the end of last season (it is my second boat.) It is an old Sportcraft, I love the model, and when I bought it I was ready to put a lot of work into it to get it into tip-top shape. At this moment I don't know if I should or shouldn't. I love the hull and am thinking about gutting the boat and making it a project over the next few months (or years,) piece by piece, whenever I get a chance.
I have some questions, and need some advice...

Has anybody (well, any of you readers) done this before? If you did, how did it come out? Was it worth all of the time, effort and of course $$?

Also, I have an original TRS drive on the back that is actually in pretty good shape. I know these are just about obsolete... approx what is this unit worth?

I am thinking about getting rid of the boat piece by piece until it is bare and start from scratch - (engine, painting, fiberglass repair, upholstery, etc..)I am fortunate enough to be able to store the boat for free so that is not a problem.

So which of the two choices;

1. Sell the whole boat in one piece and forget about it...
or
2. Do what I said above and keep the boat that I fell in love with...

Thanks for your suggestions...