Thank for all the replies and sorry to resurrect my own thread. I've been getting into cleaning her up. I've just removed surface rust and Ive been deciding on a few things. Not wanting to sink a lot of $ into it, I've decided to stick with a lot of original components for now. I might be getting some Suntour barcons for free or I'll stick with the DT shifters on there now. Overall, I'm thinking of keeping it fairly original for a little while and if I love the frame she might get a whole 650b conversion. I hope I can live with the crummy rear brake until then.

Changes: I replaced the 40 cm bars with some 44 cm bars. Did some cleaning on the wheels I put some old 700x28 Vittoria randonneurs for now. I dont care for those tires, and will get some plusher 32s after a few "Dialing in" miles. SPD pedals on the way, too. The big change: removing the 50 tooth outer ring and riding 46x30 in the front. Cheap freewheel and chain are going on next.