Originally Posted by
TandemGeek
I gotta tell ya, folks have ridden long and hard miles on bikes of similar or lesser quality over the past 100 years.
The frame looks to be solid, albeit heavy... which is typical of older bikes you'll find all around the world still being ridden for daily transportation.
And, given all of the restoration work described by the OP, the important stuff appears to be getting taken care of.
You're being very charitable but you're right - it can be done. People have done a lot crazier stuff and lived to tell about it. However, even with the work he plans to do on this bike, I would not consider speeds higher than about 12-15 mph - certainly not 30 mph descents.