Two different goals, not two versions of the same thing
People often frame this as a budget question. It is not. A concours restoration and a restomod cost about the same on a full build. The real question is what you want from the car, because these two builds chase opposite goals, and choosing the wrong one is an expensive way to end up with a car you do not enjoy.
Concours restoration: originality
A concours restoration returns the car to exactly how Ford built it, or better: correct parts, correct finishes, correct date codes, and the show-grade details judges reward. The value is in originality. This is the right build for a rare car, a numbers-matching investment, or an owner who cares most about correctness and history.
The trade-off is the driving experience. A correctly restored 1967 drives like a well-sorted 1967, which means drum-era brakes feel, vintage steering, and no air conditioning unless the car had it. That is exactly right for a show car, and tiring for a daily-driven one.
Restomod: the driving experience
A restomod keeps the classic body and modernizes everything you interact with: modern V8 power, a transmission that suits how you drive, real brakes, suspension that handles, power steering, and comfort like air conditioning. The value is in how the car drives.
The trade-off is originality. Modifying a car moves it away from correct, which reduces collector value on a rare car. On a common car, or one that already lost its original drivetrain, that trade is usually worth it, because a car that is a joy to drive is what most buyers of those cars want anyway.
How to decide
Ask two questions. First, is the car rare or numbers-matching? If yes, originality is worth protecting, and a correct restoration is usually the answer. If no, you have freedom. Second, how will you use it? If it is a show car or a piece of history, restore it correct. If you want to drive it hard and often, a restomod will make you happier every single time you get in.
There is no universally right answer, only the right answer for your car and how you want to live with it. If you are on the fence, that is a conversation worth having before any wrench turns.