Hi Welcome.
The 2 litres are a very nice car, But...… If the engine is shot then expect a hefty bill in UK around £15-20K rebuild. Though the AC engine is a nice looking thing. If it is shot then unless you after originality (let me dodge the bullets now) Then I would go for another form of engine, I have a Triumph straight 6 with overdrive gearbox in mine, it will cruise all day long at 70mph without any trouble. You could get hold of a Triumph tr6/250 lump and g/box over in the states or maybe a small ford/chevy 6. There is room for a V8 of the smaller variety, I did measure up for a Rover/Buick V8 it would easily fit, however back axle whilst strong could be a problem with to much torque.
Handling is in my opinion very good, with the underslung rear axle making for a low centre of gravity. Steering is relatively light even at standstill/parking speeds.
Do check the brakes as hard to find new master/slave cylinders, though you get them bored and sleeved in stainless steel liners.
I would think If in the UK and wood is good then anything from £1-4k would be a good, wood shot again will be a real expense and a skilled job. Have a look at AC2litre.com, a restoration in progress.
You wont find many of those in the states or anywhere somewhere around a 100 still going worldwide, so I am lead to belive. Would make a great Rod if all else fails.
Let us know if you go for it.
Cheers Gary