I'm so grateful to people for the posts. Yes, the sentimental value is enormous. My father is an unusual person, and the bike is an odd connective thread in a strange family history. I will never sell it.
One huge challenge will be my personal limitations: I am not 'a bike guy,' and don't know what a derailleur hanger or cotter pin are. I will rely on others' patience - and pics - to help me get it done. I will do my best to get the pics posted ASAP. (I'm not good at those, either).
I don't need or want the bike to 'look like it did in 1970.' So updated/improved stuff is fine. If this offends anyone's sense of how the bike should be treated, please educate me in the error of my ways. (I am much more familiar with guitars, and do realize that sometimes, messing up a vintage thing is sacrilege).
Here's what I think I want to do?
1. Have the frame re-painted. There's a guy local to me (Albuquerque) who advertises this service. Too many stickers on it in it's current state. (A 70's era legally-required 'bike license' (!!!)).
2. Complete recabling of front/rear shifting systems. KEY: do I want new shifters? I don't like the traditional, separate-location levers. Prefer them on the grips. Am I being small minded?
3. Bottom bracket. BB's terrify me. I want to be told "it's fine" and never think about it again.
4. Pedals. Also a metric issue? Would love SPDs on there. Want to keep the crank set.
Things that I know to be OK:
- Tubes & tires. Has some crazy-ass Avocet tires Sheldon put on the new wheels. They're slick as owl poo, and I like them. In good condition.
- Brake shoes. Were replaced at the time. Brakes are old Campagnolo. I don't know much more than that.
- Chain seems fine.
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If it helps anyone here smile, please know that when I took the bike to the Harris Cyclery (I think that's where Brown worked, this is all from memory from a guy who's had a seizure), I was really into climbing, and didn't realize who Sheldon was or that he was well known until I discussed the bike with my climbing partner, who had raced bikes and said "You're an IDIOT!!! THAT'S SHELDON BROWN WHO DID YOUR BIKE!" when I called him a weird, grumpy old guy.