In reviewing this bike I would keep the 180 length Astabula crank arms (and put them away) but for a young rider the 165 or 170 would be better. This bike is a keeper and should be treated like a vintage item. It is hard to even find these old bikes let alone one with this kind of pedigree. Keep all of the parts that were on it, but use it as an original BMX bike. It will be a great ride for any young rider.
BTW, check the prices for old Red Line bikes on the bay. Smiles, MH