Originally Posted by Cycle Tourist

I'm with you on just about everything you said. For me pulling apart wheel bearings for cleaning and relubing on any recent acquisition is a must. If it's been sitting it's probably dried out and if it's heavily used, it's probably contaminated with dirt. In any case you get a good feel for the bike by checking the bearing surfaces. The BB bearings and headset get the same treatment. Chasing ball bearings from a headset should be a televised sport. If they don't need replacement, I don't replace them. It's really hard to toss unused tires that have aged sidewalls but you gotta do it. If the brake pads are good, I just take some sandpaper to the surface to remove any glazing.
My issue is paint. I hate all the work involved in new paint but hate a heavily scratched and chipped frame. I know it does nothing to effect performance and it's just a black hole from which you will get no return but touch up paint always looks like touch up paint.
I'm a cheapskate. I realize that. I've even removed dirty white bar tape, scrubbed it clean and reattached it.