We used to use these bikes for bike tossing contests. I would definitely NOT restore that bike. I think you should save whatever money you were planning to blow on it, and buy a real bike used after you've saved a couple hundred bucks. You can get some fantastic deals at yard sale. I bought a Cannondale all Dura Ace road racing bike along with Look pedals, and all the riding clothing including Sidi shoes (and a watch) for 40 bucks once.