This is a great use for an 80s World Sport frame, with lots of conversation starting features.
I just rebuilt an 87 World Sport for my wife, but I just replaced the steel wheels and a few other components with alloy parts from the co-op, and then raised the drop bars a little. I'm trying to get her used to riding a road bike. But I was surprised how light and responsive the resulting bike was at a very low price point. I thought about entering it in the $100 clunker challenge, but then I put Paselas on it and that blew the budget.