Your Bugeye looks just like my 59 when I got it. Mine is now pretty roadworthy with sleeved MC and front disc brake upgrade, rebuilt transmission, rebuilt HS2 Carbs, new water pump, new electric fuel pump, front tilt hood, Watt linkage, Harley side mirrors, negative ground conversion, alternator upgrade, new interior from Moss, new mini lite rims, new tires, new top and tonneau, seatbelts, aftermarket steering wheel and a LOUD Stueble air horn. It will be even nicer when I finish the "smoke free" wiring harness and under dash fuse box, install the hot rod 1275 project, upgrade the headlights, add electronic ignition, install the rollbar, find a Datsun transmission and finally get around to touching up the paint. Even with all this roadworthy stuff, it is very scary to drive on the Dallas freeways. Lots of fun around the neighborhood or on two lane farm to market roads, but don't forget you have absolutely no safety equipment in case of an accident. Splat City if you pile the car up. But, hey, Danger is our middle name, right?
My approach was to keep the car original looking, but add whatever style and performance or reliability upgrades I wanted. For example, the Bugeye came with steel wheels, but I like the look and stance of the car in wider Minilite rims.
The Dark Side of playing with these cars is that it it really easy to jump your initial $4k investment up by at least twice if not more. It is really easy to get upside down in what you sink into these cars (as I am), but to me it is a fun hobby, not a business investment. Still it is a good idea not to keep the receipts all in one place if you are married.