Originally Posted by
merziac
Like I said, I rarely say scrap it and yes of course it presents a valuable learning experience with very little value in the end.
The OP asked for opinions and I gave him one of mine that was partially based on his wanting to save an already assploded FD, not a sound starting point IMO and many of us know all to well how "fun" a French project like this can be even when you know the challenges, never mind the cottered crank that is often a struggle in itself when experienced.
I guess I should have prefaced it with "I would probably or if it was me".

I completely understand. I'm not even saying I have a desire to tackle such a project right now. Everybody's got preferences, and that's cool.
And I agree. A cracked plastic derailleur is no good. But there are more than enough cheap parts out there to get bikes like this back to a useful state.
We've seen more miraculous rescues around here. Doesn't have to end up as someone's pride and joy. But knockaround status? Everyone loves a good beater.
Dump money into it? That's up to the individual. But it isn't necessary by any means. I've got low-end Suntour Honor on my own Peugeot. Cheap and works great.
I guess my point is that with the right combination of frugality and resourcefulness, bikes like this become a vehicle, rather than another piece of garbage.