Hello, I have a 49 Willys Fairmont A-30 I'm restoring. It was in service as a weed sprayer at an arsenal until a couple of years ago. It all works but suffers from the effects of the three mechanics Neglect, Abuse, and Sometime Later. Mine has a very early hyrail system that has been modified some over the years but still works. Willys America has a couple of these trucks and has been great source of knowledge.
With regard to value, even if the truck is not in too good of shape it is rare enough you could likely trade it / sell it for enough to purchase a restored or updated 2 door Willys wagon that is not as rare if you do not have the skills / time / money to work on the one you have. I will likely have $20,000+ and 4 years into mine by the time it is looking like new and I am doing everything but body work / painitng. Unusual, well restored willys (i.e. a fire truck) sell for $18,000-$25,000 at the very high end altough prices have actualy gone up a bit lately. I've seen some nice wagons advertised for $28,000 but I doubt they sold. There is a nice origional driver down the street from me for $4,000. Re-engined or modified wagons go for less. To restore the rail equipment will cost a lot more as you will need to custom make some parts or purchase them from the few people who have them. If you want to adapt modern hy-rail equipment to the jeep, used hyrail conversions are readily availble from railroad recycle centers and on e-bay.
My advise is think about what you want. If you want a project then start to carefully look at each system (i.e. brakes, fuel, electrical, etc.) at a time and repair it. Do not just start to take things apart as some parts (including brackets, spacers, etc.) are one of a kind and could never be replaced. Take lots of pictures. You will end up with a rare truck to use on special occassions. if you want a driver, you could likely come out ahead by using the rare truck to purchase a less rare Wills that is ready to romp or one that you can complete within your budget and time. John