We need pictures.
A lot depends on how rough it is and what it would take to get back to honest presentable condition. If the body is sound and only minor issues to sort and cosmetics, I would say restore it and keep it as a running example. If the body is rotten - I'm not familiar with the model for rust, but if anything like the 360's I had it will be rotten, I would break and feed the spares market to keep the good ones on the road.
It also depends on how much you paid for it, so economics will come into play and what facilities you have for breaking.