Hi!

First post

Okay, well pretty much i picked up an '87 bridgestone Mb3 (i was only able to identify the year from sheldon brown's bridgestone catalogs!) off of craigslist a few months ago for 120$, I didn't know much about the brand etc so i got lucky there.

It has a few problems, but i'm not sure if i should fix those problems and replace some parts so it'd work better for me, or to get in the market for a new bike. I've heard good things about this bike, i'm not entirely sure why though, but i guess i'm not so experienced.

It'd be a commuter bike, pretty much ~15m daily, not many hills etc.

Everything is stock on it currently, and i'd need to replace the sprocket as it's bent, can i replace it with a single wheeled sprocket (3 wheels now, excuse me for not knowing the correct terms), i don't change gears too often, and if i did i could use the rear gears right? Apart from that i'm interested in replacing the handlebars, stem (is there a need to replace this?), and the wheels (current is stock, and i'm assuming they're heavy.)

It weighs 30lbs right now, i assume with overhaul i could get it down to 25-27?
It's pretty much all of that (i don't know how much that will all cost.), or a new (craigslist, so used) bike...

Willing to take pictures if you guys need them