Every vintage bike is "completely restorable". The question is whether it is worth the expense. Most bikes are more about making road ready and safe, everything functioning. Restoration is limited to those top of the line, most desirable names (which is a short list).
Rust is never good, and all French components can be a plus or a minus (think craptastic Simplex plastic derailleurs).
Last edited by wrk101; 06-20-19 at 10:40 AM.