Worth £50 any day of the week

Thanks for the heads up on this one. I bought it for £40 and a 50 minute drive across London each way last night (miserable & rainy). It’s been fairly unsympathetically ‘updated’ with new unknown brand wheels with Miche hubs, non-gruppo Shimano brakes and levers. But has the original Deore long cage RD (which I’ve been looking for) and a 600ex headset. Also Sturmey stem, fluted SR seat post and SR Custom cranks. Might those have been original? No FD fitted and just the right hand Deore shifter (braze on).
Thinking either a single speed or transfer all my first gen Deore stuff to it and restore it? What do you think?
Well worth it for the frame, headset, cranks and RD but I don’t think I’ll be parting it out. Always regret that.

22.5” or about 57cm. So a bit smaller than most of my bikes. It’s standing next to my 600ex, which is 60cm. But it should be ok.

Having bought this bike at a reasonable price I have been lavishing money on bringing it closer to the original spec. The modern wheels weren’t to my liking and didn’t match. The brakes were modern dual-pivot and had to go, the brake levers had been drilled out to fit Miricycle wing mirrors so were also redundant. I wanted to fit an original Deore first gen triple chain set and the saddle was past its best.
So I have bought:

• Drive side Deore triple crank set (I had the non-drive side crank). Bought cheaply from the US, cost more in postage and then HMRC slapped 20% + £8 on it as import dues. So not cheap after all.
• Nice wheels with 600ax hubs and Mavic MA2 rims.
• Dura Ace 2nd gen side pull brakes – not original equipment but right for period. Unfortunately, they are short drops and the rear needs a long drop so I am planning to make a Sheldon Brown style drop bolt.
  
• A Viscount (i.e. the Taiwanese one) saddle with Ti rails (looks like a Selle Italia Flite

Luckily I had some 600ex brake levers – again right for period – and a rear Showa rack. Need to source a front mech that can shift over a triple. It ought to be a first gen Deore, but they tend to be expensive. Bike has brazed on shifter bosses but only one lever (correct Deore type), on the right. I’m toying with the idea of fitting bar end shifters.
When it's complete I'll post some pictures