Which bike for a project?

Just steer clear of peugeots. Raleighs are great, same with falcon, elswick, Dawes.... Anything else really that's British (just give it a google). You can find good frames on the classifieds here..

This.
I've done a Peugeot 80's conversion - Eng thread so was ok. But doing a Raleigh now - http://www.lfgss.com/thread107171.html

I love mixte frames so maybe try one of those?
There's one in the window of:
The London Bicycle Repair Shop
Shop 2-3 Benson House
Hatfields, Waterloo
London, SE1 8DQ