What's a fair price?

Newbie here and this is my first post, so be gentle. Here's my background...I learned to drive on a Willys SW back around 1960. Since then, I've owned or had access to, a CJ2, CJ5, YJ and my current daily driver, a 2012 JK. bought new. I'm looking for a summer toy, strictly for around town use. A local Jeep shop with years of experience has two restored M38s for sale. One is a 1950, restored nicely in military fashion, with pioneer tools and a top, but has a replacement Ford 2.0l engine, apparently out of a Pinto. The other is well done up in bright yellow, in the fashion of a "Follow Me" jeep, with the original Go Devil engine, but none of the other accoutrements; i.e., no pioneer tools, street type tires instead of military, more modern front seats, and turn signals added. Both are of course, 12v conversions. The dealer is asking $12k for either. The price doesn't necessarily scare me off, but I'm wondering if I should pursue these or look for a civilian Jeep instead. I've got another local dealer with a couple of very nice 2004 LJs for about the same price, and there are several more older YJs and TJs available for 2/3 the asking price of the M38s. Given my situation, what do y'Newbie here and this is my first post, so be gentle. Here's my background...I learned to drive on a Willys SW back around 1960. Since then, I've owned or had access to, a CJ2, CJ5, YJ and my current daily driver, a 2012 JK. bought new. I'm looking for a summer toy, strictly for around town use. A local Jeep shop with years of experience has two restored M38s for sale. One is a 1950, restored nicely in military fashion, with pioneer tools and a top, but has a replacement Ford 2.0l engine, apparently out of a Pinto. The other is well done up in bright yellow, in the fashion of a "Follow Me" jeep, with the original Go Devil engine, but none of the other accoutrements; i.e., no pioneer tools, street type tires instead of military, moreall think? M38, Civilian Jeep, or a Miata? The military M38 would certainly look cool, parked outside my favorite local pub, but I'm wondering about the Ford engine.