For that price you should be able to find a decent road bike with original paint and original parts (gears.) You will spend a lot putting gears back on this bike, especially since you'll need a new rear wheel/wheelset.

It looks like a well done conversion but it's not going to be a light bike (I'm not sure what you have now.) That wheelset will be heavy and so will the frame. The gearing and tires are setup more for onroad/offroad riding than just road riding.