The bike could stand to use a tune up/overhaul. At a minimum:
replace cables and housing
replace brake pads (already done)
new tires
flush out grease and repack w new grease all bearings: front and rear hub, headset, bottom bracket

New wheels with or replacing the steel rims for alloy would be a significant upgrade. Finding something period appropriate or NOS ranges from easy to insanely dificult depending on how much you want to get into it.

Brake squeal could be from improper toe in, or the bushings degraded on the mafac brakes.