diwhy?

I'm embarking on this trip of about 1700 miles and have a couple of questions for you experienced dudes.

I have a Schwinn Varsity from Walmart that I bought for $100. It's in great condition and is tuned up pretty well. It has about 300 miles on it. I ride it to and from work everyday (5 days a week). Which is eight miles both ways. It rides great considering the cost and I've only had one flat since my purchase. The reason I ride this bike is because I'm pretty broke and can't really afford a nice, high-end bike. Upon seeing this bike, I did some research and thought I could make this bike worth while. It has been thus far.

Now for my question: Am I a complete and total idiot for even considering touring on this bike? Does anyone have any suggestions pertaining to my situation? Are there any parts upgrades I should be doing? All help will be greatly appreciated.

Keep in mind also that I'm bringing the necessary setup for this kind of trip.