Great frame. I raced a nearly identical one back in '87 or so.

If you're going to use it you'll need to do something. Otherwise it will rust into uselessness.

If it was mine (and I was really attached to it) I'd probably have it completely stripped and competently repainted with the correct color and decals. Unless it was the bike I used to win Paris-Roubaix or something, though, I probably wouldn't try to have it rechromed. Those bikes look just fine without the chrome, all done in a single color.

And again, if I just wanted it as a rider, I'd probably just powdercoat it. I have no doubt that offends the gods, but it will at least preserve the frame until someone decides to spring for a proper restoration.