KonAaron, what do you mean by "donor bike route"?
I've decided to just tune it up and ride the hell out of it. Replace the brake cables, . The first owner was a surgeon, and he had at least 2 inches of padding underneath the bar tape, so I think I'll strip that off and slap some shellaced yellow cloth on there.
Will post pics in the craigslist finds subforum when it's all done. And thanks for the advice/kind words, guys!