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I know there will be many opinions on this but would prefer to learn from other's successes or failures to not replicate failures. I have a 1975 coupe, passed father in laws car. Plan to be a driver, spirited street driving, no racing and no restoration correct shows. Have already done wheels/tires, fluids flushed, major systems checked, ac switched over to r134.. Would prefer to do a frame off but time and funds are not available for that. So the question is where to start. Suspension is original as far as I can tell, as are brake lines, fuel lines, gas tank, all running gear. Motor runs good so far, it is an L48 auto but that is the last of my worries, it will be upgraded or swapped after everything else is up to par. On the list of preferred things to do are: new bushings, new front and rear suspension (springs or coilovers front/composite spring rear/shocks), new exhaust, new calipers and pads and brake lines, new fuel system (tank, sender, pump, lines), repair bearings, etc. So I guess the question comes with mostly brakes, suspension. So many questions that I don't even know where to start, I have written this sentence 10 times which just leads to more questions.
I find if you look at the whole car it can be a bit overwhelming so I found it was best to break it down in sections like trailing arms need new bushes ,new parking brakes ,new bearings, ujoints , brake lines , dust shields, disc brake pads ,French locks ,park brake cables etc so you have to plan ahead to make sure you have all the parts to do each section .I have to plan ahead since I live in Australia and takes about two weeks for a shipment of parts so if I forget any thing its a two week delay minimum .I would rebuild or replace the brake calipers first to make sure it can stop .
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I would just get it running ad driving safely. Then drive the wheels off of it. What you need and want will make themselves apparant. Suspension upgrades are always a good thing over the metal leaf springs. Sometimes the seats. Drive it first, then think about spending the money.....make it rain!!!!!
so, it looks ok and runs ok as-is? brakes first. sit in the driveway and slam on the brakes harder than you will ever have to in an emergency. now, do it a few times. no lines or seals blew? then they will probably be ok for a while. now sit back and write a list of what bugs you most. but if you drive it much, it will tell you what to fix next.
Assuming you've checked and there are no rust issues, do what derekderek and sug said. One component at a time. As you work on the obvious needs, the others will become apparent as you start taking things apart and driving it. After 11 years, I don't think there are many fasteners left that I haven't removed other than in the headlight area. But the lights and vacuum mechanism work flawlessly so I'll let that sleeping dog lie.