A lot of the old rigid mountain bikes actually make good touring bikes. Getting slick tires should improve the ride on roads and paths. Tell us what size your rims are and i'm sure you'll get a lot of tire recommendations. I agree with the others, it sounds like your bike will be good with a little maintenance. Getting all of the bearings re-greased will really make a difference. Claude Butler is a respectable make, so it's probably worth taking care of. Your bike can be made to feel new again.