Thanks for the opinion, that's exactly the kind of feedback I'm looking for.
Interesting, isn't it, when we're younger we live on a "tight budget", in middle age the money seems to flow more easily, then we get older and find ourselves, AGAIN, back on a strict budget...But I suppose that's just the cycle of life.
Anyway, of course, I'd like to do a first class overhaul, but this tractor project is being financed by retirement savings and whatever I can squeek out of my social security check. And that means I'm not going to be able to do everything perfectly, I'll have to cut some cornors somewhere. So I'd sure value your opinion on how to proceed in this situation. The wife tells me I can spend $700 on this thing. So I guess a better question would be: what's the most I can do for $700?