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@itsbruce
There is a lot of lovely old steel out there. Finding components that fit is a little more challenging than accessorising the latest Cannondale/Specialized/Trek model, but also fun and you learn a lot about the history of bikes and their manufacture long the way. Do your research but go for it.
Some vintage frames are overpriced because they are fashionable. The flip side to that is that there are plenty of good vintage brands that are underpriced because they aren't in the fashion top ten (for no more reason than the random caprice of fate). For example, those of us who are fans of the Gazelle Champion Mondial frames profit from the fact that they are unfashionable, since Gazelle mostly have a reputation for making clunky step-through eurobikes. As a result, some very sweet rides (made of high quality steel) are available for less than they are worth. Again, do your research.
#dontownabikenewerthan1981somightbebiased