What's your "bike status" at the moment. Are you looking for a rider for yourself, or just looking for something to mess with for fun? I would personally be trying to clean, rehab, and sell it since I've got an overflow of bikes at the moment, but if you're looking for something to play around on it might be fun to turn it into a single-speed or something. I've never done it, so I would be temped to try that just for the heck of it.