Well, I finally jumped into this today after thinking about it for a few weeks - found a Trek 820 in decent shape on craigslist and picked it up this morning. The rest of the afternoon was spent tearing the bike down and scrubbing it, as well as re-greasing bearings where needed. Attached are pics of how I bought it and how it looks this evening. Hopefully I'll have it finished tomorrow night, I'm really curious to see how this thing rides. Thanks to everyone here for the inspiration for what so far has been a fun project!