This is the main site for the restoration.
Following summary is via Slashdot:
They eventually submitted the winning bid for an IBM 360 Model 20 mainframe – €3,710 (about $4,141 USD) – and proceeded to pick it up from an abandoned building “in the backstreets of Nuremberg, Germany.” (Where they tackled several issues with a tiny door that hadn’t been opened since the 1970s.) By day Adam is a railway software engineer, but he’s also been involved in computer history for over a decade at The National Museum of Computing in Bletchley, England.
Along with engineer Peter Vaughan, the three are now blogging “the saga that unfurled…and how we eventually tackled the problems we discovered.” But after much beer, whisky, and Weiner Schnitzel, Adam assures us the story ends with a victory:
The machine will shortly be headed to the UK for a full restoration to working order. We’re planning to blog the entire process and hope some of you might be interested in reading more about it.*