I would love some advice/opinions on a Vintage Raleigh Grand Prix I picked up in the Spring. I am not 100% sure of the vintage but I am guessing it's early 70's. It was restored by a local bike shop with new wheels/tires and tuned up ans cost me $200. I swapped out the original handlebars, as I found them too narrow and also replaced the brake levers and stem. Since then I have been using it for my daily commute, which is about 14 miles and so far I am pretty happy with it. It's pretty fast, but can be a little jarring on the potholed Boston streets!
Here's my dilemma - the frame is a pretty chipped and I was thinking of getting it sand/bead blasted and powder coated to avoid rust, and I was also thinking about getting new wheels. However, this may run into hundreds of dollars and I am not sure if the frame is worth spending that kind of cash on, or if I would be better off putting the money towards a newer bike. The Frame is lugged steel, but I think I've heard that this was an entry level bike at the time.
Any thoughts from people who've owned both vintage and newer bikes? Do you think that entry level vintage bikes are worth spending extra cash on, or should I just put the money towards something like a San Jose or t1000?