+1 Not worth the effort.
I buy (and sell) quite a few vintage bikes. For it to make sense financially, the best deals are bikes in "project" condition (need work, often a lot of work), and then you have to have the time/tools/aptitude/space/interest/access to affordable parts. If you have to pay someone to do the work, a great deal quickly can become a bad deal. Its pretty easy for a shop rehab bill to exceed the cost of the finished bike. So even a free bike can be a "bad" deal financially, depending on condition and who does the work.
This particular bike is in project condition, but priced as if it is ready to ride (actually higher than that, the last LeTour IV I sold went for $125, and it had new tires, cables, tubes, bearings, grease, fully serviced and ready to go: clearly I did not make much on that one....)
Last edited by wrk101; 07-04-11 at 08:05 AM.