Thanks for they replies.
Bill, this is a Trek 800 singletrack. Seems to be a later model but no suspension. I like the frame because it has some slope in the top tube and wider in the frame body.
I have ridden aluminum frame bikes in the past when I owned a nice Giant full suspension mountain bike and a decent Schwinn road bike but I like this steel frame quite a bit.
I know it sounds crazy because after I spend what I plan on this bike I could have purchased a much newer / used hybrid. But I just like the idea of making this bike my own. Plus I enjoy wrenching on stuff and I like projects. For me there is nothing like the sense of pride you get from doing your own work.
What I have ordered: a set of aluminum wheels (cheap zerolites) but still better than whats on it now. A new threadless quill and stem, and a new seat. Thinking about replacing the fork with an aluminum but I think I will ride for a while.