I have fixed up old bikes and not worth it generally.
My favorite bike is a '92 Cannondale frame, built up as an 8-speed.
I'm trying to get a deal on one of
these, too.
"Old" often means "People stopped paying attention to it." For you, that means "I got this for a dollar!"
Make sure it's worth your dollar, but dude, bike frame for a buck. That basically means that you get to build a bike for the price of other nice, used parts. Nice work. Put all the love you can into it! If the frame cracks, transfer the love over to a new frame!