This is interesting. I am looking at a 1978 Raleigh Pro frame, fork , BB, and headset and am wondering about value. I am actually looking for reasons NOT to buy it but may anyway. I know as a complete bike these top end Raleighs are worth what has been mentioned , $600-$800 with patina and MUCH more in real nice shape, maybe $1200 or so. That one actually should clean up nicely, I wouldn't think it needed painting or anything. In fact some folks prefer an original bike even if the paint isn't perfect. The fact that the original receipt comes with the bike would be a plus. I think a solid weekend of work and some consumables (cables, tires, bar tape, polish and grease) and you would be down the road on a sweet bike.