1949 VAC looks like a go

I've been tinkering with my old '49 VAC, after sitting for years, trying to bring it back to life. I got it started, rebuilt the carb, it starts and runs, but...I discovered that the rear main seal leaks and it will need all new tires, there are cracks right through the sidewalls all around.

I've been checking around and I guess the rear seal is a doable job, the tractor has to be split, but the engine stays together. I checked compression and it is within spec.

So I've all but decided to go ahead with the restore, but would still feel better with some expert opinions. Here's a video inventory of where it's at, what do you think? Thanks.