Refresh of this thread. I have a working TO-30 today. Took a lot of this and that, but finally drove it around the hangar and put a half mile on it. List of things done, if I can remember it all, starting from the front to the back:
New front tubes; Radiator rodded, a few small leaks sealed up; new t-stat, upper and lower rad hoses and clamps; 12V alt rebuilt; new plugs; dist and all ignition bits; carb rebuilt; gas tank; fuel petcock; oil pan gasket, filter, filler cap, new solenoid, key start, battery; trans fluid, stick shift boot; both drums lathed smooth, new brake shoes on left(badly worn), paint.
All in with the $200 price tag of the unit I'm at about $930 total investment plus at least 40 hours. The remaining stuff is decorative or trim work. I'm welding new steel into the nose of the hood where it pivots as the old pivot holes could fit my wrist through. Some dings and dents pounded out, wire up the headlights again, and finish my two-tone gold and red paint in some spots.
The lift works flawless with nice new hyd fluid, clutch is tight and both brakes now work well. It's not going to be a full restore, but will soon head for CO and the life of light mowing and winter snow moving. Was a fun project, and I'm happy it didn't get broken up into metal and scrapped completely.