General Cycling Discussion - My $10 Peugeot Road Bike

I'd figure ill move the thread here for a better response. ;)
Long story short - I lately became very fascinated with road bikes. I love how light they are and the way they feel, I regret buying a MTB last year. Anyways I purchase this bike at a local pawn shop for 10$ and was wondering if its worth restoring.
I would need a new wheelset because theres a little crack on each one. Tires and tube are great, the front one in fact is new i believe, it has all the signs of a new tire. The seat is unbelievable comfortable. I probably need a new crankset too since I see theres a slight wobble which I think that means the crank is slighting bent. Besides that everything is fine. But im not bike expert, but I know enough to fix it and have it running well again.

So it worth spending on a new wheelset and crankset or should I get decent used one?
I dont want to spend too much fixing this up.

Thanks

http://upload.serverseed.com/pictars3/DSC01981.JPG
http://upload.serverseed.com/pictars3/DSC01980.JPG

It sounds like you enjoy this bike so my advice is to spend
some time and money to fix it up.......yourself. Sure, it
won't be new or cheaper than some new bikes,but when you're
done it will be....your bike.....your way.

No amount of money can buy you the satisfaction of building
something yourself. Street rodders do it all the time for the
pure enjoyment of doing it. To me, building a bicycle is no
different...just less expensive.

Go ahead.....build away and have some fun.

That looks like an early 70's UO-8. I wouldn't "restore" a bike like that, but it would make a pretty good rider. One problem is that it is French, and it will a little difficult (or costly) to find bottom brackets, pedals and headsets. Before you replace the crank, check to make sure that it's not just the pedals that are bent. If the gears don't work perfectly, I'd convert it to single speed or fixed gear. Nice wheels are always a good upgrade.
Another choice is to take off the kickstand, put it on E-bay and describe it as "vintage." Even ordinary Peugeots can get a pretty good price. You should be able to get pretty good money just for the brakes.
The most fun you can have with a bike like that is to blow by some poser with the latest and greatest carbon and titanium road bike, just to prove that the motor is still the most important part.

That looks like an early 70's UO-8. I wouldn't "restore" a bike like that, but it would make a pretty good rider. One problem is that it is French, and it will a little difficult (or costly) to find bottom brackets, pedals and headsets. Before you replace the crank, check to make sure that it's not just the pedals that are bent. If the gears don't work perfectly, I'd convert it to single speed or fixed gear. Nice wheels are always a good upgrade.
Another choice is to take off the kickstand, put it on E-bay and describe it as "vintage." Even ordinary Peugeots can get a pretty good price. You should be able to get pretty good money just for the brakes.
The most fun you can have with a bike like that is to blow by some poser with the latest and greatest carbon and titanium road bike, just to prove that the motor is still the most important part.

I was actually really impressed by the old kickstand, its the type that has 1 on each side and when its on the front wheel doesnt touch the ground.
I took it off already, but I think ill ebay it like you said. Thanks =]

Im not really sure what do you mean by brackets, I was under the impression that they all look the same, as far as size goes.

Btw, can someone give me an estimate on how much it would be to replace both wheels, and the crank.

Thanks