My advice (which I don't always follow) is to work with what you have... don't repaint and try to salvage your components. A couple of years ago, I set up a schwinn tandem for some friends of mine. I replaced the tubes/tires and chains. I added racks, a longer seat post for the captain and a lighting system. The rest was just clean up, adjustment and elbow grease. It looks fine and runs great. Total cost for all the parts and stuff... I don't remember... but I'm sure it was well under $100.
Last edited by Noah Scape; 02-28-05 at 10:49 AM.