I've found that folks here tend to be harsh in terms of what you can sell something for.The prices they mention are what THEY would pay for it.They-are ALWAYS judging with an eye to eventually selling it and making some $$.
Check Ebay completed listings.
They are right about the broken/ not working parts.
EVERYTHING has to work to get a decent price.
I hate tubular tires/wheels. It might make sense to buy a set of clincher wheels- if you can get them for $70 or so??
Sell off the tubulars of just the Phil Wood hubs

Heck- the Campy brakes might be worth $70- $100 to someone
The hubset might be worth another who knows? $100??
I would be tempted to put the hubs, brakes,and frame on CL and see what someone will offer.Obviously don't actually disassemble the bike.
What brand of pedals are those?
Certainly don't sell it for $200- probably worth at least $400-$500 to someone just as it is-when you fix the brake problem.
If you do get new tires- buy the cheapest ones you can- I would hunt for some clinchers and sell off the hubs I think.
Yeah it might be worth more as parts- before the economy tanked many many folks(USA and Japan) were paying big $$ for any older Campy stuff- probably Phil Wood stuff also.
POS old 40 lb Schwinns still sell for $150-that bike is sure worth 3X that

Put it on CL for $650- see what happens.Emphasize the hubs Campy parts "historical frame that didn't break like many bits of new technology".(It wasn't prone to breaking was it?"
Not meaning to offend other posters- but they always appraise with an eye to reselling. When I post in the "what is it worth section" I usually end up getting 2-3x the lowest suggested price given by forum members.
Shorter bikes are actually easier to sell that tall bikes-aim for the female market-easier to deal with and fewer tire kickers fewer "experts" telling you what it isn't worth.At $400 or so it is actually in the range of someone who will ride it for transportation(sell off the hubs first) I don't sell bikes to woman for any more $$, but they are easier to work with.They don't call, come by -lowball-, recall lowball, email lowball- until it is finally sold to someone else.

A 50cm is much much easier to sell than a 60cm.Are you in near a college town??

DEFINITELY CL the Hubs and brakes at a highish price before selling the entire bike for $400- I would hold out for $600 on CL for now-test the waters- might be someone out there that can't live without the brakes hubs and the oddball derailleur(what brand of pedal?).