Touring - Is the Trek 2120 ZX fit for touring?

I have a 1995 Trek 2120 ZX that has about 10k miles on it (from my father). I just installed an Axiom Streamliner Road DLX rack on it, and plan on adding panniers. But I wanted to get some professional opinions first. Some of the bike shops near me are quick to say I need to pay for something new, when in fact I can work with what I already have.

So I'm asking you instead; Do you think this frame and it's stock components are fit for touring? The only upgrades I have on it are as follows:
-Continental Ultra Gatorskin tires
-Brooks saddle
-Pedals with toe clips

Any help would be appreciated.

And I apologize if lots of people sign on here asking similar questions.

I just looked up the 1995 Trek 2120 in Bikeipedia. I would not like to climb mountains with the 30/28 lowest gear, but it would certainly be suitable for an introduction to bicycle touring. You don't tell us how ambitious your plans for touring are.
People have toured on just about every bike under the sun. Don't try and get the perfect outfit before you begin touring. Go for a couple weekend trips with what you've got and let your experience influence what you upgrade.

Good Luck, and enjoy the ride.

Thanks for the quick reply! I'm glad you think the bike will work.

I'm planning a 2 day, 100 mile ride this weekend to start things off. From Brooklyn to Harriman State park. It will be my first actual tour, so I imagine I need to do some fine tuning to the bike before I leave. I plan on taking it into a shop today to outfit it with panniers, and also have them take a look at it. I may put new tires on since I've had a few flats with these already.