You're asking a question that will get mainly two different answers. Both of which you've answered yourself :lol:
Mechanically and body wise I knew nothing. I'm not stupid and could work it out but there is an awful lot that can go wrong. I was in the same position as you were, we have a UK bus that was sold to me needing around £500 worth of work to get it through an MOT. Take a look at my build thread, it's turned out rather more....
I did all of the out triggers, wheel tubs , wheel arch, sills and probably a few other things my self with no experience what so ever. Fortunately someone I. This forum offered me assistance, it's not been free but he has saved me a bucked load of cash.
However, the main difference being that until he arrived the girlfriend and I were going to be happy with whatever work I did as long as it was safe. It then became a full on restoring making everything as straight as possible and 20 times better than I would ever be able to get it.
With a couple of exceptions I've enjoyed every bloody minute of it. Don't get me wrong, there are definitely times when you wish you could just drive it, and use it, especially with the weather we are currently having. With or without help I've become pretty good at welding, painting, sanding etc and for most people it would be sufficient.
I woudlnt ever get a rust-free US, Australian bus as I appreciated a good brittish model. They are also pretty rare as well and it personally makes me feel good that I have a bus that came from here.
Ultimately only you can really answer the question, but the feeling I have that I have restored/helped restore a bus is great. And it's been one he'll of an experience.
Just my opinions of course
We started this on December 2nd 2012, so a fair while ago!