Congrats on the buy! The first taste is free as they say.
My VX was a basket case when I first got it too. I had a plan though and the first things I did was to swap to a 5 speed since the trans was slipping but I kept TOD which makes a very nice combo. Put on some 31 inch tires. Third and fourth I pulled all the cladding off, had it Line-x'd and the body painted. At this point I had a reasonably "Kick ***" ride. And I paid almost double what you did as an entry fee so good on you! Let the mods begin, Lady and Gentlemen open your wallets!
There's no 'I' in denial.
Thelgord 
