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BTW, I really like the 1st gens, but I will never own one because they are just so common.
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I don't think most people don't fix up a 1st Gen because they're "common" I think it's more there price. It's an iconic car just like an early mustang. To buy a first Gen camaro in poor condition is still going to eat up a lot of most people's budget. It's easier to find a less desirable car and fix up and put money into go fast parts.
But the downside to that is you have a less desirable car with expensive parts that's less likely to sell,case in point the 78 camaro with 18k in parts in post 32.
For 18-25k I'd rather find my own 78 Camaro if that's what I really wanted and put my own twist on it and not buy someone else vision. Less desirable build/car = loose money on the build or keep it.