I was in the same boat as you 2 years ago.. I had my 95 Gt, sucking more gas than I cared for, and having to borrow someones car in the winter..
Not fun.. So I ended up buying a 94 Mazda Protege (pretty close to the afformentioned Ford Escort), there weren't a whole lot of 4x4s for sale locally at the time I was looking, so i settled for it, and it has been a damn good car.. Less than $1200 invested (including $350 purchase price), and it gets 30MPG... can't beat a beater. The whole point of the beater/DD is to save money, but like many others have mentioned, while the El Camino might
be a good deal, in good shape, yada yada, it probably will be more headache than it's worth. Down the road when you have school/career/family figured out would be a good time to get a car to "tinker" with, but when you have limited resources such as time, money, and possibly automobile mechanics (no offense), it will get frustrating, quick.