About a month ago (maybe 5 to 6 weeks ago) I drove to Rockledge Florida to look at a 1968 Mustang Convertible that was listed for sale on CraigsList Cocoa Florida site and was about 95% rust free. I was shocked! From the bottoms of the doors, to the door jambs, to the floors (except for the rear driver's side floorpan), the fenders, trunk and hood, inner fenders, fenders, battery tray, radiator support and more! The only real bad spot on the car was about 1 & 1/2 feet of the passenger inner rocker framerail. The guy was asking $8,900.00 for the car, which I thought was more than reasonable for a car in this condition. The other plus to me is it was a factory Candyapple Red / Red Interior car. The nice cars are out there, and yours sounds like it is well worth the investment too.
I passed on this 1968 convertible because the seller was going to "jump title" on the car with a Tennesse title in another owner's name. He said he wasn't going to transfer the car into his name to sell it.
I had started a refinance of my house to buy the car, it was so-o-o nice. Since I wasn't about to take a $9,800.00 chance buying it and not having the titled owner to go back to if I had problems transferring the title I passed on it. I have a few ver-r-ry nice pictures that I took of it though.
When I didn't buy the '68 I found my 4th 1990 7-Up 5.0 Limited Edition Mustang LX Convertible a week afterwards in Longwood Florida. It too was on CraigsList, but the Orlando Florida site. It is a new car trade that was transferred to a wholesaler, who said he knows the lady at the Ford dealer (employee of the Ford dealer) it was traded in on and it had been in her family since it was new. This car has an almost perfect interior too, it has the original mufflers hanging under it, the original Carlite convertible rear glass still installed in the car (second top, I believe) and it shows 45,000 +/- miles on the odometer (could be 145,000 but I don't think so). I wound up having money left over so it's in the bank right now in case I find another car I would like to bring home too.
Good luck with your car, again, it sounds like it is a great find!