I would rather have a placement vehicle myself.
I agree. Once something that major happens, it is impossible to get everything lined back up, so it's very likely tires will wear bad, it might always pull one direction if you let go of the steering wheel, etc. I know you're attached, but you would be better off starting new if you can.
EDIT, I know all to well about this. I had a '74 bronco I built myself. Puts lots of blood ,sweat, and tears into. Then one night a drunk drive came thru my 'hood and plowed thru my bronco totaling it and two other cars!! It was hard to give it up, but I am glad I did.
J.D.