Do the math is what I always do when I start looking at a frameset and restoration project.
For example:
Buy a frame = $400-$500
Gruppo = $500-$700
Wheels = $250 -$400
and on and on.
If the bike fits, and to me that's always the big if, it could be a wonderful bike for you.
Looks like a beauty.
Oh another point. Stop by a bike shop or three and see what you would be able to purchase for $1,400.
Compare to this bike and see how they measure up.