You aren't the only one to get sentimental about a bike. When my first "good" road bike reached the point that I was afraid to ride it anymore (corrosion in the bottom bracket), I couldn't just throw it away. It was the bike that I'd come to love cycling on!
But there was no room to keep it, either. I took a hacksaw and cut off the head tube right behind the lugs. Still have it!

Congratulations on the Paramount! Sounds like a sweet ride. Hopefully your bikes can resolve any sibling rivalry amicably!