Thanks for all the replies folks. I'm really stoked about this project, and will post updates in the main C&V forum once I get going. I've been working on a Univega Gran Premio that I really want to get on the road, however, so the Peugeot will have to wait.

In addition, I'm definitely going back to the shop tomorrow to figure out who the exact original owner was and thank them personally. As well as inquire about the rear wheel, and why they wanted to get rid of it. Hopefully they won't want it back after I make such a big fuss over it!