Hmm. I don't too much about Raleighs. I do think that what you have is really quite cool. I know that it's your old bike, and of course you should keep it if you want and do what you want with it. However, nice, big-sized DL-1s don't grow on trees, and yours is extra interesting. Why not consider asking around here or other sources for a loop frame and trade or sell the unique one you have, rather than permanently modifying it?

I'll look forward to what our Raleigh experts have to say. I've never seen anything like that.