Looks like it's going to make a great project.

All the components look beautifully original, and the fact that everything works well tells you it won't take much to make this a nice rider. I would get rid of the plastic disk on the rear hub and the chain guard on the sprocket, along with the reflector on the spokes and the turkey leg brake handles. That would go a long way towards making this a more serious looking road bike. Get a proper seat to! I'm not a fan of fenders, but that's IMHO only. Then lube, bar tape, polish and ride!

With a newborn in the house, your going to want a reason to get away every once in awhile, and what better way to do it than on a nice vintage Motobecane!