Anything is worth restoring if a) you like the car and b) you have the money and c) you don't mind (and can justify) spending the money on what amounts to a hobby. With shop rates what they are today, it is a very costly process and you will never get anywhere near the money out of the car that you put in, so it is not a "financial" proposition by any means. It can be a labor of love and bring satisfaction to know you have saved something beautiful from oblivion. With that said, if you are asking this question, you may be better off finding a car that is already in good shape, you may save yourself a lot of headaches and get something you really enjoy. It will also cost you less overall.
As for the MKVII being interesting to drive? I think it would be magnificent. Not at all like a modern car, but with an amazing cabin ambiance, like going back in time. The manual steering would be a little tough, but you'd get a free work out! Good luck with your decision!