PJ: everyone's trying to pull you this way or that, so here's my two cents worth. It's the same thing I tell people when they ask me what they "should" do with some old car project:
You didn't get the plane to feed your wife and kids, or to fund your retirement, or for any other recognized useful purpose. You were given the plane for the enjoyment of the giver, and for your enjoyment.
So, since the purpose of acquiring the plane was for your enjoyment -- you should do what maximizes your enjoyment, and maybe your uncle's. If he's just absolutely chuffed at the idea of seeing it fly, and if you're not attached to it, then explain the risks to him and if he still wants to see it fly -- fly it gently and once (or until it bursts in the air). If you're happy with hanging it on the wall, or parting it out and using the engine in something else (don't you have a Nobler with a seriously oversized engine?), then do that.
I've seen too many people who get too much joy from sitting in their garage drinking beer and thinking about all the things they want to do with their half-completed hot-rod project to think less of anyone who stalls out on a project. If that's what floats your boat, and if your dependents have food on the table and a roof over their head -- do it.