I recently picked up a mid 80s Univega Gran Rally off an old friend's front lawn. He had bought it new just to have a bike to cruise around the neighborhood on. This was a high end bike, Shimano 600 components & sew-up tires. He's about 5'6". The frame is way to big for him (57 cm) but perfect for me. It was ridden 3-4 times & then left to rot in the backyard. Not an enjoyable bike for him to ride at all. Could have saved several hundred bucks & bought a low-end mountain bike or a beach cruiser. Might have ended up with a love of riding. I've just finished refurbishing it. What piece of jewelry this bike is. It's going on Craigslist but priced high so's I can ride it a long time.
Some of the regular riders around here are riding bikes that are mediocre at best, but fit their style better than a "serious" road bike. Got the local eccentric with a custom made wooden crate on back of his hybrid. You'll see this guy everywhere- slow but steady.