L'Eroica is sorta like a cosplay thing. The scene is the Giro d'Italia, somewhere between 1909 and the mid-eighties. Pick you favorite hero from that period. Alfredo Binda, Gino Bartali, Briek Schotte, Eddy Merckx, whomever. Pretend to be him. And make your bike to look like it might have been his.

From that perspective, there's some work to be done on that Schwinn.

Having said that, with the right parts it could be made into something that will look the part (and rides nicely too if I understand [MENTION=207730]3speedslow[/MENTION] correctly - I've never ridden a Schwinn myself). Something like this low end Mercier: