I was thinking the same thing. That looks like a pretty complete RR to be cutting it up. If you do find that it's not of significant value and decide to go forward with the project why do you say "Rat Rod"? I think that the lines of the body and fenders lend themselves to a nicely finished street rod (again, assuming it's not a valuable classic) and I would hate to see it trashed for shock effect. If it becomes a project car why not do it right?