Heck yes it's a dumb idea. Who would ever think of repurposing something to save a few bucks. I mean come on. Just throw it out and buy a new one. (I was using my sarcasm font there) Here is where my dumb idea ended up. I have put alot of miles on this since I built it and I can tell you that MTB's make the smoothest most comfortable commuters (or tourer's if you you don't need to go real fast)
http://www.bikeforums.net/showthread...rebuild-begins