I have an Imperial 33. Mechanically it hasn't been too bad. Has a few cosmetic issues in the interior. I took out the couch and put in a small entertainment unit. TV is above that, and stereo and speakers besides it. I have pulled most of the Carpet and replaced with Ceramic tile. The bath floor had rotted out from the shower and the carpet getting wet. Am typing this at
table and wife is watching tv in bed area. Like it a lot more than our old MH.
I am in the middle of a remodel. Got rid of the Sleeper sofa, replaced with a pre-built TV Cabinet. The area under the old sofa is our Canned food storage area. Still have some finishing up to do. I replaced the laminate floor I put in a couple years ago with Ceramic. When I pulled the old flooring the bath had some serious rot issues on the floor. The previous owner put vinyl flooring on the shower walls. That is coming out and will probably use 4 x 4 ceramic tiles in place. Will probably have some serious water damage to deal with. May build my own cabinet or buy a pre made and stain it myself. When all done will post pics.
I am going on 61. This past year has not been without new health issues. I just keep telling myself it beats the alternative. Too many friends and Family won't have the chance.
Keep on RV'n. I love the full time life and can't imagine going back to being locked up with be it an apartment or house.
My two cents. As has been said, most Old RV's can be restored. The ones that can't are too far gone for much else the scrap metal, and at least around here that can be a lot more costly than beneficial.
The 454 should be able to get running with only 60k. I know I have two. Both are 1987's. The biggest issue on old engines that have sat is the rubber, and synthetics on the engine and related parts. Just keep in mind a lot of guys have made many RV's out of busses a lot older. Some are pretty cool, just depends on your skill level or how much you are willing to learn along the way.