I've got this Skykomish 21 Speed i've had for 15 years that I'd love to do something with.
The rear gearset is pretty shot...bent and cracked teeth... the derailuer is new, the shifters are in great shape, the brakes are decent shimano's abour 10 years old and the frame is fine, and the front gear set is good as well as its derailuer. Other than that it needs some help. I mean I could fill up the tires (maybe) and ride it, but it needs help. The bearings in the head set are shot and need replacing and might as well the fork as well i guess.
I dunno what to do with it though... part of me says turn it into a commuter for those days I don't feel like taking the cruiser, part of me says hack it up and do something crazy like Put a trike kit on the back or take a shot at chopping the frame (i dunno why or where...just sounds cool)