Yeah, restorations are a labor of love, you will never get waht you put into the gun back out of it, but you do it because you want one. I faced a similar dilemma a few months ago: there was a Favorite in 25 Stevens in the LGS for $250, absolutely pristine, with good bluing on the barrel, color case on the metal, and even about 70% varnish on the wood. Very good price considering the condition, but way too high when you consider that it would need a barrel or relined in order to be shootable, so add another $300, putting the price out of the reasonable range. On that note, $250 to color case the receiver is not bad, I pay $350 for color casing Winchester receivers for restorations. So figure out how bad you want it and either let it go or dive in.
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