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depends what you mean by cheap. for an mgb, not really. for a complete, fia eligible car that doesn't need painting, we worked out it was cheaper to buy this than a wreck.
happy to paint the in/underside, but i don't have the skills nor the gear to paint the outside
BRM-
Paint wise I recommend this stuff http://www.bilthamber.com/paints-and-coatings/epoxy-mastic but it might be a bit heavy for a race car.
Regards cars, if you do not have the facilitates it is very difficult. One thing I have learnt from the cortina is that the cars of that epoch were very variable in tolerances and build quality, especially when you throw in so less than accurate repairs over the years. Some of the quicker racing mk1 were usually built from really rusty cars. That way, when rebuilding the cars they can get the castor and camber on the suspension that they want without having to resort to adjustable position suspension that is illegal in some historic classes. But then these are the guys that build the cars on a massive body jig to get everything straight and level to each other.
lynx
Wow that is shit and quite dangerous. Was it cheap?