I've been given the opportunity to buy a late 80's non-funny Schwinn prologue with no dents for $150 and convert it into a singlespeed. I'd have to repaint it, buy new wheels, and upgrade the quill stem, seat post, saddle, and maybe crankset? (upgrades are just for looks) but I'm not sure if that would be worth it. The only stock things id be using is the frame, a break, and the crankset.

I'm not worried about the work that's going to be put into it because I'd love working on it but I wanted to know if I should just get a bike on bikes direct if I'd have to get new components for it anyways.

What are your thoughts?