It's pretty impossible to say how much work you'd be in for without getting it in front of you and figuring out what's wrong with it. With this car, in addition to sitting too long, and the usual used car game of "what the hell did the owner screw up," you've also got the possibility that it hasn't been started because it can't be - - - your work could be anything from just an oil/battery change to a total engine replacement.
As to upgrades, the limit is pretty much your wallet. Those cars can be made demonically fast. Anything from bolt on mods, superchargers, all the way up to swapping in modern running gear, or even building a full out race engine and bringing it up to GT-1 specs. There's a few guys around the country that even put jet engines in their cars. It all depends on how much cash you have and how insane you want to go.
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