Originally Posted by
lostarchitect
I don't see any point in "upgrading" to a modern drivetrain. If he doesn't like the downtube shifters, switch to some bar-ends. New grease, bearings, pads, cables, and probably chain & freewheel. It'll be like a new bike.
^^This is the ticket, plus possibly some new Panaracers. The bike is worth putting some time and effort into, but the full "modernization" idea doesn't make a whole lot of sense.