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I though I ought to actually put some miles in before answering, and since then the entire summer has passed. Rides tend to be more a wheeze than a hoot, although I understand Ventolin is no longer regarded as cheating.
It does attract attention (and comments) - some sport is to be found in conversation with club cyclists around the higher parts of the Clee Hills, provided I don't mention that I live there.
However. Either the gears are not right for the local hills, or my legs aren't right for this gear ratio. The solution seems to lie in spending some money: new legs or move house or a different freewheel. If it had been a 'proper' build I wouldn't have started with 48x16 - I can (probably) hide an extra freewheel from Mrs. E. when I get round to buying a more sensible size - I would imagine 18T, but I've yet to read the various gear ratio threads.
I bet that's a hoot to ride.