After all these months, I finally have a bit of progress to report.
Shortly after I acquired it, one of our local AMC club members came over and gave the paint job a professional grade facelift. I was amazed at how the paint bounced back after 30 years of wear and tear. The only downside was that all of the bumps and bruises the car had accumulated over the years stood out even more against a shiny background. The part below the black rub strips wasn't touched - it was too far gone to rejuvenate. That area will simply be painted black.
Other than that bit of attention, this car has sat out behind my garage essentially untouched for the past eight months. Only in the past week or two have I been able to finally dive into it in any detail, with help from Whuntmore.
The driver's door was sagging badly, and we got that realigned. I had to replace the body half of the lower hinge, as it was ovaled out pretty good. Four new bushings were installed, and the whole door had to be shifted back and pivoted upward slightly at the rear so it would close properly again. This also evened out the panel gaps between the doors and fender.
I knew this car had rust in the rockers, but it's a lot worse than I first suspected. I've spent a few hours just pulling out bits of rusty metal. I should have taken a picture of the pile I had on the ground after that session - and that was just after doing most of the passenger side. The outer rockers are solid for the most part, but the inners succumbed to rust big time. I would have preferred the other way around.
Mechanically there isn't much to complain about. When I first drove it home in September, the transmission shuddered when first starting to drive and the brakes were horrendous. They pulled to the right in a major way when applied. Both of these problems seem to have rectified themselves over the past few months, although I'll still look at the brakes more closely. The car needs 5 or 6 minutes of warmup time before it'll move anywhere. After that, it drives just fine.
I'm aiming to have this one back on the road soon, but we shall see...