[davepl]

Shoot for mechanically sound first, that's always a good approach. You won't have any lost work because it will all contribute to the end product, unlike random cosmetic repairs.

If it were me I'd start with the fuel system, get rid of any rubber hoses, new filters, fix leaks, etc. Get the choke and heat stove and all of that working properly.

Then cooling - make sure the shroud and clutch fan and all of that is right.

Then electrical - new harness if you need it, that's never a waste.

And so on. But the time, effort, and money you invest in mechanical reliability will never be a waste no matter where your future goals are.