Keep it as is. It won't get lighter by modernizing it. And why bother about weight anyway, you only feel how heavy/light a bike is when you have to carry it. So don't carry it, just ride it.
@WimVDD started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
Keep it as is. It won't get lighter by modernizing it. And why bother about weight anyway, you only feel how heavy/light a bike is when you have to carry it. So don't carry it, just ride it.