Thanks for the feedback so far. I'm considering a new frame but Craigslist hasn't been all that helpful thus far. One of the local bike co-ops wants way too much money for their rebuilt bikes. They're nice, but perhaps a little too nice for what I intend to use them for.

The old frame fits reasonably well I think. I don't ride long distances on this bike. I go about 3-5 miles on it usually with the longest ride about 10 miles each way. I do like the frame because it looks somewhat beat-up and ugly which helps quite a bit when I lock it up in public. I thought about trying to throw a Deore rear derailleur on it and seeing how much of a difference it made but can you find a 7 speed Deore derailleur?

Edit: I guess 9 speed is compatible with a 7-speed cassette and it turns out it's not Alivio derailleur but an Altus derailleur on the rear..