Hey
@Shane5684 - I think it's always your call. I have a couple of vintage hobbies. I've got a bike that I'm currently "restoring". In my case, restoring means making it functional. I tend to like stock stuff, but that doesn't mean it's gotta be. One of my other hobbies is old VW's. I've got a '67 Beetle. A 67 Beetle to all the VW folks is a very unique year, with some of them calling it "the best year". Purists seek them for restoration - original - stock. Our 67 is anything but that. It's a dogs breakfast of early and late parts. I won't change it as it's a pretty cool custom.
Your son won't really care if it's pink, purple, custom or stock. He'll just want to work on the project with you. If you want to teach him about engines - it's a great opportunity. Welding...? Fabrication? Paint? All good life skills for a young fella.
That's my thoughts anyway. All the best with your project - whatever way you want to go!