Roadbird, as one soldier to another soldier, I see some big problem areas that might mess your plans up. You took welding classes in 1983, and did some welding in 84 or 85? Dude, that's not the strongest resume for what you're fixxin' to do! Arc (stick) welding is ok for the rotisserie, but, for the car body and any car parts; no way, forget it! Get a 200 amp machine, but a MIG welder. I don't really want to see you jump into the water filled with sharks man, but, you're not setting yourself up to really achieve results you wish to see. I know, I've been there, and done (doing) that! And anything I say will be to help you navigate the terrain.
Do you have a shop? Are you in the Army still, and, when's your next deployment? Does the shop have 240v? Do you have a lift? Do you have the tools, engine stand, etc? Are you rebuilding the motor? Do you have like 30K saved up to dump into your car? (but first dump it into tools). Are you going to start a business to justify the cost of your new-found-acquired tools after you use them one time for your car?
And, the bread and butter angle; media blast. I know you bought a pot and compressor, so, as soon as you get it hooked up, tell me how its going, and what issues you'll run into. Right now I can tell you that you'll most likely have moisture issues and clogging with your pot. This will ruin your Saturday plans to blast a fender or door. But...the main thing is that you'll have fun messing with this car! I just hope it's fruitful and productive! Cheers!