I resurrected a car that was sitting like that, though not quite for that long. My recommendation would be to replace anything that's rubber. That's an expensive proposition, I know, but there's only two systems that need to be done before you drive the car: fuel system and braking system.
I would also recommend the CFR stainless lines. WELL worth the money. And while you're in there just replace every rubber line in the fuel loop. It'll cost you maybe $60 in high pressure hose and some time cutting and clamping. Also, don't forget about the little round seals at the base of the injectors, where they meet the manifold.
http://www.pelicanparts.com/catalog/shopca...j_pg1.htm#item1All in all you're looking at maybe $250 to get the fuel system tip top. Way cheaper than burning your new baby to the ground.
As far as the braking system goes, a set of braided stainless lines are absolutely awesome and won't cost you any more than the rubber ones. Rebuilt master cylinders get kinda pricey, but they sometimes pop up used or even newly rebuilt on our 'classifieds' section for cheaper. I got mine there for $180, never used. You may be able to do better. Rebuild all four calipers. It'll cost you about $20 bucks a piece, and they're easy to do. Take 'em apart, pull old, rotted rubber seals out, clean 'em good, put new rubber in, put 'em back together. And finally, don't forget to check the fluid reservoir for any leaks. And replacing the soft, low pressure lines that run from the reservoir to the master cylinder isn't a bad idea either. Although I never did it.
In addition, you may save yourself some grief by replacing the vacuum lines in the injection system; particularly from the plenum to the MPS, and the two small lines that go to the vacuum can on the distributor. Bringin' a car back to life, especially on a budget, can be a hell of a job, but it is very rewarding. And we'll help you out with any questions you have. If you want, you can even PM me and ask me direct. Hope this helps. Good luck, and
Mark D.