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@edscoble
here's a though, why don't you run it as it is?
it look like it doesn't take much to restore it to it's former glory, in fact, a quick polish, new gumwall tyres (panaracer pasela TG), change a few bit like saddle etc. not only it would look fantastic but it'll be cheap as chip too since there's little to change.
a good example (although costly due to additional extra like Brooks, VO rack, mudguard, 650c wheelset instead of 700c etc.) is this;
here's the 'before' picture;
it's up to you though, it's your bike in the end after all.