It depends on so many things, budget, space you have available, and what you want the end product to look like.. concours or just for fun weekends.
Personally, I'd go for a Mk1, but that because whatever it threw at me, i'd never be out of my depth, but to recommend a project, then it would have to be a Mk2, for so many reasons, parts availability, and likelihood of finding a base car thats in great shape being your priorities
Bottom line though, buy the very best, complete, example you can find, ignore rotten doors, bonnet and tailgates and wings, these can be sourced easily new or OE 2nd hand, you're looking for a shell that has great floor pans, sills, A posts, and rear wheel arches, and no signs of accident damage anywhere on the shell itself... accumulate as many new parts as possible before you start ripping to bits, this will help in the long run, and also save money, as "Scene Tax" starts to kick in, in the near future, as Mk2 donor cars start to get scarce, expect parts prices to rise even beyond what they are now!
Every now and then, "Rolling shells" come up for sale, thes can be great if fully restored by someone reputable, but you would likely still need a donor car, which would mean that you would need space for at least 3 cars!! something to bare in mind!
Thom