Dont put $1200 in a 1975 model. You can buy newer ones on craigslist for less. Just take an experienced mechanic and a compression gauge with you to look at them. My guess is...you can find one for $800 with a better ignition system. As I recall, that 75 model has points. The newer ones dont. I know the 1980 models and newer have better ignition systems, but I dont know which year they began.
Now, Donald...please pick John Bolton for your running mate.