Len only you can decide if it is a good idea or not. If you have the time and talent you could certainly fix up and test out an older boat.
What boat to buy, is really the big question that seems to get asked about every day on here. I would suggest looking at some of Jeff H's old posts, I know he commented not too long ago on the Allberg 30 in particular and suggested that it's hull design had some issues with sea motion.
Good luck and do you sail out of Bayfield ?