Are planning to use it to ride in brevets? If so, then some questions you need to consider - and I can't tell from the photo - is that a double or triple set of rings? Randonneuring events require lighting, so you'll want to consider whether or not you really want to keep the generator on the rear - they're pretty heavy and the drag on the wheel is (generally) pretty harsh - or go with a more modern (brighter and safer and lighter) lighting system. Does it have multiple eyelets on the rear? And is the front fork drilled for racks? You've got a cottered crank - which I rather like, incidentally - but you need a cotter pin press to properly service it (don't let anyone convince you that a hammer or C-clamp will work; you will be frustrated to no end!) But if you plan to ride 200, 400, 600, or 1200k events, you'll want to consider how easy the cottered crank can be serviced on the road, not to mention the various other French-threaded or French-diameter parts. All this said, if you just want a cool looking ride, and you don't plan to actually do any randonneuring, then this will likely make a decent "neighborhood" bike. I could be wrong, but this looks a little more like the "semi-course" or "demi-course" models offered by Peugeot in France: not really intended for the long randonneuring rides; rather, for light touring. It's sure a cool looking ride, though.

Here are examples of Peugeot's semi-course models:


And here are the randonneuring models:


Here, you can compare the differences between full randonneuring models against the semi-course models: