New owner of a scary boat!

I would like to get some advice from the professionals. First of all I'll thank you in advance for reading my tragic post / story and hope you have some ideas. A few weeks ago I "won" a flying scot on ebay. From the discription it sounded like a usable boat that had some repair work done to it that was not perfect. Some of you may have seen the listing. My first mistake was having my brother pick up the boat without me being there. I guess I just trusted what the seller was telling me - big mistake. So my brother paid the balance ($3000.00 dollar total purchase price - a good deal?) and picked up the boat as he has a weekend farm near the boats location - Portage MI. Because he would be bring it home at the end of the weekend (western suburbs of Chicago) and the bearings had not been gone through he repacked the bearings (which were ok amazingly), added new bearing buddys, replaced all three tires (which were dryrotted), and replaced the trailer lights (which were crap). So it made the trip home ok. Monday evening I started looking closly at the boat and found the surprises. The "repairs" that were done to the hull looked like they had been done by the local butcher! On both the starboard and port sides were the deck meets the hull "repairs" had been done. I would guess maybe the boat was crushed? The starboard side was worse and goes along most of the cockpit. The port side is not as bad - mostly at the front of the cockpit. It seems to be fairly structurally sound (no soft spots or anything) but the deck sort of waves at you and just to give you an idea - he fiberglassed a pair of vice grips into the hull at the starboard side - nice. As I say I think you could actually sail it ok but it's not very impressive. The entire deck and starboard side of hull was painted with epoxy paint when the "repairs" were "completed" which is shinny but does have some dust in it and is not perfect. In addition the main sail has several holes in it (not usable) and the jib has a small issue (fixable I'm sure). He said the sails were in great shape on the lising. He did say one of the shrouds were damaged and needed to be replaced - which it is. The mast has some scratches in the aluminum I think were the forstay attaches which he said nothing about but is probably not a big deal. Most importantly the rudder is completely the wrong unit! I have no idea what it is off of but I won't tilt and looks completely inadequate. I called the seller the next day to share my disappointment and stated I would like to return the vessel to him and get my money back. He told me he knew about the vice grips he used "to hold it together while I glassed it". I thought that might have been something he would have liked to share in the lising. He asked if I could take pictures of the mainsail and email them to him as he thought the sail was in good shape and he would then call me back. A few days latter after not returning my many emails and phone calls, he emailed me back saying he would paypail me $300.00 for the mail sail but the boat was advertised as having "prior repairs" to the hull and the rudder was shown in the pictures - as it was I will say. I guess it was better than nothing, but not much. I feel like I was taken but part of it is my fault as I should have been more educated about the boat before I made a bid - buyer beware! I think it could have been much more acurately listed - possibly as a "parts boat / fixer upper" and I told him that several times. I also think this person has very low ethics, but that is another story. So this is my trajic story. By the way the trailer is the original unit that came with the boat - galvinized Load Rite - and is in good shape now. What I'm wondering is should I try to get the things necessary to sail it - basically sails, a new shroud, and a rudder tiller assembly - or should I try to sell it as is for a "parts boat / fixer upper"? Would anyone out there be interested in it or would anyone have a used rudder assembly? All the rigging - mast winches, main sheet, boom vang, centerboard, etc... appears to be there and I think works. I would appreciate any input / thoughts from the knowlegeable people on this forum and look forward to hearing from someone soon. Thanks again, Russ Fouts.