So I took the Peugeot to the LBS (the fine folks at Adams Avenue Cycles) this morning. He said it was a really good machine, with nice components. He lubed the front shifter and suddenly everything worked pretty good. Apparently there was a lot of gunk inside it. The FD was only "slightly" out of alignment, and it took him about thirty seconds to fix that. He took a test drive, and all is well. The bike shifts easily.
He recommended keeping the tires that are on it, said they're fine. Brakes, good. Cables, good. Even the saddle met with his knowing nod of approval.
So, tallying it all up:
Feeling of excitement for upcoming trail rides: Priceless!
With warm weather coming this weekend, I'm looking forward to a little trail ride to see how it goes.