What was it about Toranas that first got your neckhairs to attention? For me it was the look and sound of one of those things around Bathurst, so my car is flared, drop tanked and with a 5 liter. Maybe remembering what got you excited in the first place will help you decide your direction? And having a welding mate is a bonus, because that takes care of the rust repairs. In the meantime learn how to strip and prepare a panel (Slar's Rusty Lx thread and many other's are gold for this), then skim coat it with filler for a good result without needing 20 years of panel beating experience behind you, or a million expensive tools. My current method is to get one panel a week in epotech, ready for skim coating: suddenly I only have two to go and feel like it's progressing.
If you want it enough, and it seems you do, you will find a way to get it all done. Plan a visit to Toranafest in September too, that will fire you up and give you plenty of options to look at and owners to talk to. :-)
Don't give up yet mate. :-)