No such thing as too cautious, Paul.
It's been said here before, and bears repeating, that a potential owner should come to a major event first, see, touch and maybe drive a few -- and most of us will allow that -- before you plunk down the old nest-egg on a major piece of property.
You really ought to put your hands on one of these and talk face-to-face to some owners in a setting where you can see who did what with these cars. Everyone likes to talk about that thing they brought -- you need to keep asking the questions and focus in on why you would want one in the first place.
Let me take an honest look at my Classic Motor Carriages (pre-modification):
Reliability? Depends entirely on whether the individual who bought the car in kit form knew what he was doing. The person who assembled mine didn't have too many things right, and I was left stranded right out of the box.
Overall styling? Depends on what level of bodywork was done, and whether or not corners were cut on the pieces as they were installed. In the case of my car, there were a lot of corners cut, like the welds that were holding the front of the pans to the back. Terrible. I could see the road at the seam, and pass a basketball through the hole near the pedals.
Power? Nope. None at all, outside of maybe 45 horses. Those suffered from a prior super-studding of the right bank of cylinders which was busy failing. It sounded like a Sikorski, not a Volkswagen.
Customer service? None. The company is defunct -- although there have been several attempts to return to the marketplace under different names. All my research led me to the conclusion that I needed to streamline my car, concentrate on a re-do and stop tinkering with little things as they came up. Then I needed a VW mechanic -- or a priest.
Maintenance costs? About $70/mo., when it was still a somewhat roadworthy CMC. Gas, tires and oil; through concerned neglect, it only got worse. I am happy to report it was still relatively cheap, even in the nickel-and-dime phase. It wasn't a fancy car, and I didn't buy new parts.
Mileage? Difficult to tell. The gauges supplied with my car sucked. I'd say it was somewhere in the 20K odo range, but I have no idea how many miles were on the chassis. I'd guess it was a Beetle on its last mechanical legs before it got hacked into a Speedster. Later on, as we began re-doing the whole car, the structural metal we kept was all in fantastic shape under 30 years of crud. The black chassis was still shiny, even under all that dirt.
Fuel economy? Between 20 and 25 mpg with a stock 1641 which later died and got thrown away.
Pan or tube chassis? Was a pan car, cut and welded wrong, with giant holes in the floor. There wasn't a lot of Beetle metal left in the floors, which had been re-panned (is that a word?) three times.
Initial outlay? $16K for a piece of crap.
Recovery? More than I'd care to admit. I am now in IM-land, plus a few grand.
Fun? More than the law allows. The trade-offs from the CMC being hundreds of pieces of garbage flying in close formation (and I'm sure I bought the worst possible example; there are stellar cars out there that people put REAL effort into) included not having to worry about taking it to the beach, leaving it parked at a meter on a busy street, water damage from leaving the top down or even lookey-loos poking at the torn-up seats. It was a fun car when I needed to be impractical following a divorce.
I'm not the bottom line, or even an expert. My demands for my car grew as I got more and more attached to it. But I think I can safely say that most used CMCs lend themselves to improvement of some kind, and they're rarely done with an eye toward luxury.
I don't know anything I could publish about anybody else's car, except that I firmly believe that I had the absolute barrel-scraper on this site at one time.
I also believe it's a long, long way from that now.
Does that help any?