Gray,
That R 50 is beautiful. I share you affection for the vintage Beemers. I did a '75 R90/6 a few years ago and loved that machine. I rode to trailer week back in 2000 with two of my nephews. After several thousand miles I convinced my Frau to join me on a few Sunday rides and a few months later we were aboard a new 02 R1150RT. The ABS made me lots more confident with two up and since then we've logged nearly 40,000 miles. Up the coast of Maine is still our best trip (we ended up lobster fishing with a local fellow). I still miss the R90 but once the wind fills the helmet aboard the RT, the lust for old fades a bit, but I love seeing well done vintage.
I bought a "kit" last year and am in the early stages of building my Speedie. I enjoy the hours in the shop as my time killer and find great pleasure in the small steps as it comes into being. My suggestion is to lurk here and read the posts. There is a wealth of knowledge, but even more valuable is the experience of other owners and drivers. Some of the builders are more trustworthy than others and you will find whom to trust and whom to avoid, just by asking and lurking.
There's a broad range of variation in the details of each car and you should consider each in deciding what you'd like to drive or build. Your experience with VW's will be valuable in understanding the application of the technical stuff and the results. In retrospect, I wish I had found this site before I bought my kit. If you can find the opportunity, join these guys for a gathering of any kind just to view the cars and hear what fellows like and don't.
There is very likely someone near you whom you should consider visiting to inspect the car or cars and feed brain with ideas.