Some of this boils down to taste. If the Cabo Rico is anything like the ones I've seen it has lots of custom teak. Depending on your taste, this makes for an extremely pleasant on board environment. This contrasts to the rather "clorox bottle" feel of a newer boat with more exposed fiberglass.
Clearly the older boat will be more work and a labor of love. I can tell you that boats like the Cabo tend to have a cult following and might be an easier resale if that is a consideration downstream.