Bicycle Mechanics - specific(steel) frame question

Hey, I recently retrieved my wifes' bike . She had loaned it out several years ago and the bike was used a few times by my wifes friend to ride with her children. It is a Schwin Frontier. No comments please. If it makes you feel better I did buy it a a real bike store. She only agreed to the purchase to shut me up. I suspected she would not actually use the damn thing but hey, it got me a new bike at the time. I was wondering about repainting the bike, adding a few minor upgrade parts that I have floating around my garage and making the bike a singlespeed or maybe a fixed gear bike to ride around the streets with my son. He is getting his new Giant tricycle today, I'm very excited. While I might throw a few dollors at the rims, everything else is already taking up space in my garage. So, no real money will be spent. My question is coming up now. What's the steel like at this level of bike? I mean it is steel right? Steel tubes formed in the shape of a bike? I will most likely not take the bike offroad but once or twice for grins but I will bash around the streets etc with the boy. I am just mildly curious to hear some low end steel frame thoughts. The project is going to happen since I can afford the new wheels and have the needed parts so please keep any "bike sucks, don't waste money" comments to a bare minimum, thanks. Okay, so this isn't really a question but I do so enjoy posting mindless banter into the far flung reaches of cyberspace. To recap, low end steel frame thoughts, feelings, funny storys anecdotes, wives tales, etc. Have fun.

1. You own a low end mountain bike that actually has negative utility because nobody rides it and it's taking up room in your garage.

2. You think that it would be fun to repaint and maybe even reinvent this bike to cruise around the neighborhood with your kid.

3. So what's your question? It makes perfect sense to me.

Low end steel frames are infinitely superior to low end aluminum. ;)

Yeah, and low end steel is likely a better bet for taking abuse as a beater than the thinner walled high end stuff.In the given application you probably couldn't tell the difference between gas pipe and DB cromo anyway.

Often the old steelies are the most fun to mess around with because of their old heft. Out of my collection I have 1 aluminum race mtb, my better mtb is an early 90's upgrade(very upgraded). Do whatever you want to that you think will be fun, especially with your kid. Steel frames are simpler to strip and repaint, which you will appreciate.