I just purchased a 79 rx7 with 60,xxx miles on it. It is a 2 owner car and I know both of them. The car a sit in a garage for 6yrs looks like new except one small dent and missing trim on drivers door. One prob it was parked because it lost power I bought the car cheep enough so Im not to worried. Have not got the car home yet did not see it run. Any suggestions debating fixing it up or not, but I would rather fix it up. $$$ is my question.

 

Well, first look at this:
http://www.aaroncake.net/rx-7/unstore.htm

It is geared towards 2nd gens but much of the advice will be valuable for you as well.

Second, perform a compression test. "Sudden loss of power" could be anything from a bad ignition coil or points, to a blown engine. With only 60K on the clock, it should be far from blown though.