I have a 78 Spitfire and I love it. No, its not the best LBC in the world, but it is a very nice looking LBC and it's fun to drive and very easy to work on. As for what its worth, that's hard to say. Probably not as much as a comparable MGB and of course condition is everything. If I was going to buy a good, rust-free driver that was presentable, but not a show car, I'd probably consider somewhere between $3500 and $4500 depending on how good "good" is. For a fully restored Spit that is super nice, you might go as high as $6-7K, but it would have to be really good. If its in "fair" condition, I'd be looking at something less than $3500. It will never be a car that you will make any money on, but it is a fun little car that be bought for a relativly small sume in most cases.
Just one guys opinion.
Basil