I have a '72 Fuji Finest, which (to be charitable) was "inspired" by the PX-10. The PX-10 may have geometry that is 1 degree steeper (it could make a difference), but I've had that Fuji set up in all sorts of configurations - from nothing mounted, to a front bag and a rear rack with a trunk bag and 10+ pounds. It's a lot more fun to ride unburdened, but it wasn't terrible when tooling around as a workhouse either.

The other consideration is aesthetics. On this one, I agree with many of the earlier critics to an extent. However, if you put mud guards on it, it will look less like a racing bike and less "strange" with a bulky rear rack. You will want relatively wider tires for non-racing duty anyway, and that will give it even more "cred" as an about-town ride. Just don't try high-speed descending with 20 pounds of stuff on the back.