eBay and Craigslist finds

^ Man, that looks lovely, although a little too big for me. I've never built up a road bike before, but tempted to start a project soon...so forgive what may seem like foolish noobie questions, but is it straightforward enough to build up, say, the Pinarello above with a more modern groupset and components i.e. gear shifters integrated into the brake levers rather than downtube levers?

It would be a (minor) crime to build it with handleber shifters when its got those bosses begging for a period grouppo. It will likely be 126mm rear spacing so you'd be limited to a 7 speed system unless you respaced it. A good 7 speed groupset, well set up, should be a treat to use.