well... without considering the rust I'd say it's worth it. However I'd check to see how extensive the rust really is because that IMO is the determining factor in buying an e30.
EDIT: Also I dont have much experience with the ix. I did KBB and it said around $2k. Normally I'd pay up to $4k for a one that had that much done to it but with the rust I'd stick with around $2k. I mean what the hell the parts on that car alone are worth more than $2k and you could get one with a good frame and just transfer stuff. All depends on how much free time you have.