what do I have?
I have recently become reinterested in bicycling. 30+ years ago I was major into it and once rode across the US (took 3 months to do it, on sew-ups). I still have the bike I rode...I was thinking I need to get a new bike but I was wondering what I've got. It is a Rex Criterium frame made with 631 tubing, chrome lugs, leather saddle, Campy stuff and hubs. Would it be worth recomponenting the frame? Call it vintage and get a Trek?
The Improbable Bulk
Ask in the Classic & Vintage forum for a more informed audience on 30+ year old bikes... It sounds like a bike they would love to hear about and help you make decisions about.
People over there run the spectrum from ride as is, to upgrade... so you will get a variety of opinions to help you decide...
From a cost benefit perspective, buying new is often cheaper than upgrading... although it depends on exactly what your objective in upgrading is.
As a guess, with Criterium in the name, it would be good for you if you want a stiff responsive bike, if you are wanting a more comfortable relaxed ride 30 years later, you may want to get a different bike, perhaps one with a sports touring geometry... Be prepared to be asked for pictures in the C&V forum, because the people over there like seeing pictures of vintage equipment.
Slow Ride Cyclists of NEPA
People do not seem to realize that their opinion of the world is also a confession of character.
- Ralph Waldo Emerson