So, last year I got a Cannondale saeco (2004?) from my friend for free. The bike had not been ridden in quite some time, so I got a decent tune up with new cables and such. It still needs some further TLC. The bike is a bit too big for me, I have the seat all the way down so that I don't over stretch my legs, and the reach is pretty uncomfortable. I just don't have the money to buy a new bike right now.

So my question is.

Should I put more money into it replaces old and worn out parts, as well as getting parts to help make the fit as good as I can?
OR
Just tough it out and ride it till it breaks while saving money for a new bike?

Any suggestions would be more than welcome, also, criticism is fine.