Get a good pfd...put it on...step the mast and bend on the sails...put her in the water and make sure she's not leaking like a sieve...and go for it...BEFORE YOU PUT A LICK OF WORK INTO HER.
This will accomplish 2 things:
1. You will have a freakin' blast sailing...which will inspire you to do all the work you need to bring her back.
2. She will sink to the bottom and you will have saved a huge amount of work - and STILL got to sail a bit.
What seems to happen often is that you get too into the restoration work and get tired of it before you ever get to sail. Sailing is what it's all about.