Looks like you've got a good car to start with, believe it or not. If I were you, I wouldn't try to "restore" it...too much time and money and it won't be what you want. I would recommend gutting the monster completely...doing all the necessary body work...check your floor pans also. Then go ahead and completely rebuild the car the way you want it...you'd be amazed at the good parts/deals you can find at a wrecking yard.
New Toy- Stone stock '88 T-bird Sport in need of some TLC
1988 Cougar XR-7- HO/T-5 conversion, cracked block prevented from reaching full potential.
RIP '88 T-Bird....email@example.com...best sleeper in So. Jersey, now it's taking a permanent dirt nap.