I have considered a classic. I just think (and this is just my personal opinion) that they are getting on a bit, it just looks a bit dated now - especially the interior. The safety/security isn't as good either from what i've read.
You are right though, i've seen more rough looking bugeye's in my budget than decent ones. In contrast, i've also seen more nice looking classics at the same price.
A mate of mine had an excellent example which he sold a while back and he told me out of all the cars he sold, the Impreza was the hardest car to get rid of - there were loads for sale and the prices varied.