Just in the interest of completing the story - 4 months down the line. Done
Not perfect but not a bad.
Frame unknown make but does have Nervex Seres Legere lugs - probably 50's or 60's at a guess
Newer Tange Chromed forks
ITM bars
SR stem
Headset was a newish 105
Replaced the Formos brakes with Weinmann 730's from my local salvage guy and used the Dia compe levers
Standard shimano cranks and crappy wellgo pedals with a new sealed bottom bracket
43 tooth Thorn chainring
KMC chain
Shimano BMX 16 tooth freewheel
Wheels are pelisier hubs with alex rims that Big Al from Wheelcraft (same as the Wheelcraft decals on the forks) built for an old Dawes that I have. The wheels I pulled off this bike are normandy and sunshine hubs and Wolber 27" rims that I'll put on my old dawes.
Tyres are panaracers
New Brooks special
New cables etc
Rides nice and I'm satisfied - what more do you need!?!
P.S. I spent 2 weeks burning the stuck alu seatpost out with caustic soda - thought it was never going to come!!