Velo Schauff Grand Sport worth buying?

Hi!

As I know there are some serious bikers over here I thought I'd ask your advice on something. I've been looking for a vintage road bike that I could turn into a commuter -basically change it into flat bar, and I've been offered this Velo Schauff Grand Sport for 150 euros.

I found a similar bike here (the fork is different and this one has damaged rear) http://www.retrobike.co.uk/forum/viewtopic.php?t=392499 and it has some specs.

First of all, I am 190cm and the frame is 58cm (the seller wasn't 100% sure about the height). Is the frame too small for me? Second, how much money should prepare for the project? I think I need to get at least the following:

1. handlebar
   
2. seat (that one is ugly)
   
3. brake levers
   
4. shifters
   
5. new brakes(?) It seems that the current ones are Weinmann Centre
   Pulls and I think side pulls would be better
   
   

Which parts should I get?

I have no experience about doing all this. I did watch this video and it seems it's not an impossible thing to do: https://www.youtube.com/watch?v=ZyfnPva-wtg

Changing the brakes might be more difficult. There's some discussion here about replacing the Weinmann Centre Pulls, but I am really not sure about what parts I should get to do the replacement. Could I fit e.g. some Shimano side pulls on this? http://www.thevelocollective.com/changing-centre-pull-for-side-pull-brakes/

Anyways, what do you think, is worth the price and the effort?

Edit: The seller said this is from 1989 or 1990, but surely they didn't use center pull brakes anymore back then?

worth the price and the effort?

Not if you want to do all the changes listed. Buy something already converted to flat bars, or ride this one as it is.

In the uk this sort of bike is seen as hopelessly old and past it, but in Europe this is totally fine... I guess the moral of the story would be ‘don’t ask a forum full of bike snobs if a bike is ok’.

Flat bars are fine, sticking a pipe or even a cheap Planet X handlebar in there should be no problem. Just make sure to use the old brake levers for that full rat bike feel! Putting more modern brakes on is a bit more complicated as they’ve changed technologies/fittings several times. On my older bikes I use a pair of tektro-brand brakes which are designed to replace the older centre pull. Maybe it’s the r539, I can’t remember. That might not be the right thing for this bike, depending on when it was made, but expect things to be different from what the standards are now.

In the uk this sort of bike is seen as hopelessly old and past it, but in Europe this is totally fine...

Wait, the UK is not in Europe?! Well, I am. I'm well Euro, me.

Joke apart, this is not snobbery to tell someone not to spend too much money on a bike/frame that isn't worth it, especially as it is obvious the OP may not have the experience in sourcing cheaper parts and/doing the work himself, hence the "ride as it is".
Also people on this forum sell ready to ride flat bar commuters for the same money than the donor bike here.

Yeah, but postage is going to be a PITA. Good point though, if the original poster can’t/doesn’t feel up to making repairs maybe a different bike would be better. Although I think that 150 euros for a steel racer is pretty reasonable in my part of Europe.