An "Airworthy" restoration of LBG would carry little of LBG in it other than name, even with an unlimited budget, and would seem to be destroying heritage rather than preserving it.
Even a static but "complete" restoration would need to replace significant parts of it.
It would be better to paint the Collings Foundation a/c as LBG during one of its repaints if there is a need to see LBG in the air, and to put restoration efforts into one of the more viable wrecks that do not carry as much unique heritage in their own right.
LBG is best conserved in its current condition, placed undercover in a large crash diorama to preserve it as it is, either at Dayton Ohio or in Libya.
However there are still other wrecks surviving today and able to form the basis of static restorations such as that undertaken by Hill Aerospace, However I dont believe any of these would be viable airworthy projects either.
http://www.pacificwrecks.com/aircraft/b-24/41-23908/1979/b24-island1979.html
http://www.pacificwrecks.com/aircraft/b-24/41-23908.html
The Atka B24-D wreck in Canada , would still seem to be the most viable
wreck for recovery and static restoration.
http://www.nps.gov/history/nr/travel/aviation/atk.htm
Along with a similar condition B24 on a high mountain Plateau in Indonesia that I can no longer locate a link or reference for (anyone aware of this one?)
Or alternatively a static project could be created from a collection of a number of the remains in PNG or Canada etc, however those costs would really be prohibitive.
http://www.pacificwrecks.com/walkabout/popondetta/b24.html
http://www.pacificwrecks.com/douglas/wrecks/b24.html
http://www.pacificwrecks.com/aircraft/b-24/42-40885.html
http://www.pacificwrecks.com/aircraft/b-24/42-41091/1969/b24-faita-cockpit.html
http://www.pacificwrecks.com/aircraft/b-24/42-41091.html
http://www.pacificwrecks.com/aircraft/b-24/42-73490.html
Regards
Mark Pilkington