From the Rovers I’m used to building, this looks to be in great shape, frame notwithstanding. Body looks fantastic too! They almost all need a great deal of work if they have been left to sit outside for a good while, so that’s not uncommon. But by the one picture, your bulkhead looks to be in decent shape as well and that’s a huge plus.
To modify or not, is on all our minds. I’ve done two stock restorations and one Restomod and currently working on another Restomod. I’ll never build another stock one. There’s just too much to be gained by adding better brakes, more power, and a better transmission. But it’s your call and largely depends on what you intend to do with the Rover (and your wallet). If you are holding it as an investment and can travel everywhere you want to go by backroads, or slowly, then by all means keep it stock. They are very capable as is, if slow, but an overdrive will help this.
Easily reversible, but awesome upgrades are disc brakes (see previous thread about this below) and an overdrive. More expensive and often non-reversible upgrades are power steering, a newer transmission (R380 which I can highly recommend, or an LT77), and a more powerful engine. But these require a lot of modification to fit in most cases.
It’s very nice to be able to hop in and hit the interstate if I want to, with no fear of being rear ended.
https://www.youtube.com/watch?v=WDaOUciyQyk
61 II 109" Pickup (Restomod, 350 small block, TR4050)
66 IIA 88" Station Wagon (sold)
66 IIA 109" Pickup (Restomod, 5MGE, R380)
67 IIA 109" NADA Wagon (sold)
88, 2.5TD 110 RHD non-hicap pickup
-I used to know everything there was to know about Land Rovers; then I joined the RN Bulletin Board.