To answer your first question. Mine was a total piece of crap when I bought it. I converted more stuff over than you even want to hear. Standard to RS front end, Stock interior to 2002 trans am interior, replaced fender, driver rear quarter, lowered, bla bla bla. So I will post a few pics for inspiration instead of typing for an hour about it. See pics below for this paragraph. I love doing bodywork and sheetmetal fabrication so working on a crappy car doesnt bother me at all. The car looked great until I started taking the primer off. Then there was just bondo everywhere and holes.
To answer your other question about what YOU should do. That is completely up to you. Do you want to replace lots of sheet metal on the coupe or woudl you rather work on a car that already has a lot of good sheet metal like your convertible?