Joined: Nov 2006
Posts: 19,811
Likes: 596
From: NJ, NYC, LI
Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
No, that's not salvageable. Sorry. I love old steel bikes in general, but that one is from the low end of the low end, crashed, water damaged, and filthy. I doubt there's any parts on it that are worth stripping off it, unless, perhaps, if the derailleurs are Suntour.