Here's the photos I was going to post about 2 months ago, but I'm really slow and forgetful. I have since lowered the saddle, removed the bars and ran the brake cable correctly, and cleaned the bike. And does yours have that goofy headset? What a drag to adjust.
Oh, and I also installed the 105 crankset in place of the dull Raleigh-branded one. But I kept them weird brakes from DiaCompe, I think they are Aero Grand Compe with the impossible brake pads.
This is my commuter/bad weather/beater/do-everything ride, if only because I know I can't damage the finish.