Originally Posted by
pargeterw
So, the budget is not in my hands, and I intend to send them a detailed plan, with alternate scenarios and costs etc. and then do the most expensive thing that they'll finance!
Ahh, honesty is refreshing these days!
I think you'll find, (by adding up the cost of waynesulak's list, particularly the new, hopefully "tandem-rated" wheels), that the most expensive thing you can do is fix up this Gitane, and then you'll still get handed down a hi-tensile steel Gitane with outdated equipment. A decent used, current day ride will be 1/3 lighter, twice as stiff and responsive, have twice as many gears, better braking, better shifting, plus the uber-convenience of brifters, (brake and shifter together, if you're not familiar).
I logged quite a few miles on one of these Gitanes back in the 70's, and I'm here to tell you that the current day bikes are head and shoulders above them. I'm reasonably sure that if you go ride a current day machine, you'll probably agree. Plus, in trying to make a silk purse out of a sow's ear, you inevitably screw up someone's opportunity to own a beautifully restored sow's ear!
Oops! Wrote this before I saw your rebuttal to my original post. If you're determined to fix this one up for sentimental reasons, go for it. There's often no "dollar to value" rationale necessary there.