I wouldn't modify something that rare. If it is a real Y84, factory 4 speed 301 car, then yes, if the figures are accurate, she's a rare bird. If you don't want to restore it, sell it, and find what you want...Something you can modify without guilt! lol.
However, as I am finding out with selling my car, rare doesn't always mean people will be knocking down your door.. I am not dissing your car, as I have the exact same (only non y84) setup.
To the right person who understands the car's significance, the car will easily sell at what you are asking. To the general car guy, who wants a Trans Am, and happens to find your 4 speed car listed, the rarity doesn't really matter. He doesn't understand that there were only 213 made, and probably many less still on the road. That's what I'm finding out selling mine. If fact, the other day, a guy came over and looked at my car. I told him my bottom dollar, and he said, "There's no way I'd give you that, your car has a 301, and it needs tons of work! I know where there's a '79 403 car for 1500 and I can drive it home! It would outrun your 301 any day!" I told him, yeah, but it isn't a 4 speed/301/ttop/ac car... I know where there is a '81 Honda for $500 and it has 20K original miles and nice paint! It's all in what the person is looking for.
You wouldn't pay 8K for a 84 base model camaro PROJECT CAR, but 8K for a '69 camaro project car is a pretty decent buy. Why? Because of WHAT IT IS.
Most guys on C-list are just looking for a car "like the one in smokey and the bandit". So what if it has a 350 chevy, or the wrong year nose? It goes fast and looks like that bandit car, right?
Your car will sell. You just have to wait for the guy who knows what it is. He will pay the asking price if he is set on owning a '79 Y84 301 T/A. Why? 'cause there are only 213 ever made. Don't like the price? Tell him to go find another one.
If you need it gone NOW, you'd have to lower the price enough for even the average car guy to think it's a good deal.
Rarity is only valuable to the right buyer. For instance, my dad was selling a '70 Rallye 350 he had owned for awhile. It was one of 3500 or so. Definately a cool car. Most people never offered even close to his $12,500 asking price. Why? Because they just saw a yellow Cutlass. It was a very nice car, with its original 350. Any car guy would know to not to let a '70 Chevelle LS6 priced at 12,500(just for the sake of an example) slip away. They would rob a bank if they didn't have the money to take advantage of a once-in-a-lifetime deal like that.. EVERYONE and their brother knows that a LS6 chevelle is a valuable car. It is an established classic. That's common knowledge. Here's the catch. There were 4,475 1970 Ls6 cars built. There were only 3,547 Rallye 350s made. That makes the Rallye 350 "rarer". So why didn't someone jump on my dad's car? Because it is only valuable to an Oldsmobile lover, or someone who knows what it is. It's not a "mainstream" classic like the LS6.
Likewise, Trans Ams haven't become "established collector cars" yet. They are on their way, though. In a few years, $3,000 for a '79 Y84 301/4 speed car will be an absolute STEAL to ANYONE who even likes cars, because the general car guy will know that it is rare.
