I would say no on converting this to a single speed. For basic around town riding it wouldn't really improve much, maybe even hurt rideability and could cost quit a bit work and parts wise to do nicely likely a wheelset, BB, crank, freewheel and chain. I think your time and money would be much better spent on some basic upgrades to the existing drivetrain such as a new chain and modern ramped HG type freewheel and maybe a good used cheap set of alloy wheels. It just seems that a lot of the under 30 crowd think almost any road bike with a clean older frame few braze ons and vertical drops should be converted which is just not the case.