No pics?
What's wrong with the chain and saddle? Does it have to have high end parts? "Fell into your lap" makes me think you got it cheap. Would a set of Jagwire cables, Pasela tires and some tape really make you upside down on it? A bulky chain could possibly be cured by soaking it in something, maybe ATF? As decent take off saddle from the LBS will fix that issue.
Don't these have a huge following? Or just the XO-1?
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“One morning you wake up, the girl is gone, the bikes are gone, all that's left behind is a pair of old tires and a tube of tubular glue, all squeezed out"
Sugar "Kane" Kowalczyk