Commuting - I may have found a new commuter bike. Opinions requested

I found a Raleigh Rampar 10 speed at the local thrift store for US$15.95.
It looks to be in very nice shape. Plenty of clearance for fenders in the fork and seat stays. (if I can find some modern fenders for 27" wheels)
The fit seems pretty good too. It is simular, but newer, then my Raleigh Grand Prix that I use for my road bike. It even has braiz-ons for rack/fender mounting.

So, what do you think?

For that price you can't go wrong! If i remember correctly you are still losing weight? correct me if I'm wrong. If so, take it for a few long rides before you start commuting on it, to try and nail out any potential problems like spoke popping etc.

Brendon

Does it have alloy wheels or steel? Steel wheels don't stop very well when it's raining. Does it have stem shifters? I've heard that they can be awkward to shift sometimes, but I haven't had any problems with them. What kind of rear deraillleur does it have? I have an old Raleigh Super Course with SunTour Honor rear der, no problems with it shifiting, but I don't ride it that much. I paid $25 for my Raleigh, but I prefer my $17 Bianchi for roading, usually ride the MTB for commuting.

I believe 27" fenders are still made. If it's got stem (i.e. gutripper) shifters, convert them to bar-end (barcon) shifters.
I'd buy it, just to have a back-up commuter. Plus, the advice in pinerider's signature line is spot on. 9 bikes and 3 boats here. Maybe ten bikes, I found an old Magneet bicycle I think I'll convert into a 'round the neighborhood SS beater.

SKS chromoplastic fenders should work for 27" as well as 700c, they are pretty flexible, but when fitted are very strong and effective.