Only good for masochists, it'll need a new one of everything from rusted-in brake seals to rusted-in swingarm bearings. And when it's all done you'll be left with a bike that's only slightly better than other featherweights, is completely impractical, and cost the same as a new bike to put together even if it was free.
If you already have another one that runs nicely but needs new plastics, then go for it!
Looks comfy, a little bit cruiser and a little bit naked ... how is it to live with?