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While relatively simple to work on ... that's the problem with this series of cars.
They are maintenance, repair, and adjustment hogs for the mileage that you can get on one. Constant fiddling around with the carbs is routine, and as mentioned ... the electrical system/components in these is an ongoing project.
Reasonably fun to drive, but much better performance for your dollars can be found in other later cars ... along with better handling/braking, A/C and functional heaters, better windshield wiper systems, better clutches and transmissions, etc.
From time to time, I've succumbed to my fond memories of my 50's-60's-70's Brit roadsters and bought another resto project car. Usually need everything gone through to put them into roadworthy condition; suspension, brakes, engine o'haul, trans o'haul, electical systems restored (actually, brought up to a better standard than new), interior work, etc. I leave the paint and body work to a friend who does this type of work ... and he reciprocates by sending me his mechanical work projects.
By the time I get one of these back on the road, the joy of completing the project is exceeded by the let-down of just how crude these cars really are to drive, even in good running order. The memories and nostaglia are far better than the cars in real life if you've bought it to drive it; IMO, the Brits didn't do any improvements in their cars of the late 1960's into the 1970's up to the end of their production years. If the nostalgia aspect of driving one of these appeals to you, you might as well get a much older one ... even with their smaller displacement engines, they were as much fun to drive. The best of the lot for me was a 1961 MGA Coupe ... but several Morgan +4's were higher on the fun meter for actually driving them on a nice day.
I've owned a couple of MGs over the years (usually had a classic British car as a Summer/Sunday car) and the biggest problems that you'll find are poor steel quality so they erode really badly, especially the subframe, engine and suspension mounts but if it's restored being in Texas that shouldn't be a problem.
The other big hassle was the electrics, they were normally made by Lucas and terrible. It isn't that hard to use standard GM units from the same era if you need to.
Also watch head problems due to overheat at the back cylinder. Lucas...The prince of darkness. All things British leak. The British secret service leaks secrets, Rolls Royces leak oil and Lucas electrical systems leak smoke. When the smoke leaks out they stop working.
Don't let the nay-sayers scare you off. There is a lot of fun owning an old car. After all, it's not going to be your daily driver. You could attend car shows, get thumbs-up lots of people, even try vintage car races/rallies.
I am sure there are many specialized MGB forums online where you can get help in repairs, modifications, etc.
I've owned a couple of sports cars. An Italian one (need I say more) and a Miata.
Ask yourself: do you want a labor of love or do you want to take drives with the wind in your hair?
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