Okay, final decision = the PX-10 goes. I went back and forth for a week on this and decided it's just not worth it to me. I'm sure it's a fine bike, but I've got two other "top of the line" French bikes that don't need nearly as much work. So, now I just have to decide whether to part it out on the Bay (is this a crime?) or see what I can get locally for the complete bike.
For what it's worth, I went down the path of trying to get it sandblasted, then powder-coated and then planned on purchasing a new decal kit...but then I figured it would be so much effort just to make it as nice as a few other bikes I already have. I know, it's a terrible situation to have, right? But seriously, I think this is the best choice for me given my budget, space constraints and allowable time spent on rebuilding a bike at the moment. *sigh* 'tis a sad day.
-Collin-