Hi
It depends what your saving, if you got a good tractor, the winch probably is, I can't really see much from pictures other than it's rusty and should have a new cable fitted and be gone through before re use.
As for as the tractor, I would say it's probably going to need motor work, maybe the cylinders are full of water/ seized with standing. might even be full of water in the sump to, fuel pump could be stuck, looks like the clutch pedal might be down for some reason to. The bottom outer rubber sleeve rings are probably dried out and split, so it wouldn't hold water if it was free and a runner, so chances are all that good fun stuff going to be wrong

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one bell ringer to me is if only that hose was wrong why did he park it so quickly. I kinda think it was probably worn out way back then

, not many guys park something for a 10 quid hose, unless they pass away first and never get back to it

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looks like the hood might be ok but whats the mud guards like for fixing and re use

. Hows the tyres would they be ok for re use or all need replacing

. thats money right there, before anything else
To be honest if it was a family tractor with huge sentimental value, and I had more money / time than brains, I'd probably try saving the tractor

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In the real world as a tractor and proper value . I would use some parts if they were good,I needed them and send the rest to china

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A guy will end up with more in it with parts and time, than you could buy a good one for already done

.Those older majors are still to popular and a lot have survived. if it was a blue grey super then it may be a better investment as only made around 2 years, Lots got exported in the late 90's and before that I saw up in Cambridge sale yard, when I lived in the U.k, so has made them the one guys want bad and will pay accordingly

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Just my personal thoughts here, you know what you want and got to spend in the bank doing it and have seen more of it than us, if you want to do it thats your decision not ours to make, we will be here for support if you go ahead and save it, and will follow the project with interest

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Regards Robert
A Fordson is for life not just for Christmas !.