Duane,
Since you'll be selling this bike, I'd advise that you think of your target buyer - a woman who is 5'5" or so. Select your color scheme on that basis, something like pearlescent white with pink or red bar tape. Use black or red housing and forego the decals. Just keep the headbadge. Keep the aesthetics clean and bright.

Don't change the drivetrain, as it adds costs with no return. Taeget the bike at the $205 price point and try like mad not to be upside down on material costs. Move on to the next project bike. You should be looking at 56 or 58 cm frames. PG