Reviving this dormant poll/thread. In the end, I ignored all the advice and let the bike sit. Eventually, the solution revealed itself. I purchased a Motobecane Grand Jubilé from Kansas City Craigslist and have been divesting myself of many of the parts (let me know if you'd like the frame). Among the parts were more than a bike's worth of unlined red housing and two pairs of red Tressostar tape. So red it is.

The unlined housing presented a bit of a problem which Greg Reiche on internet-BOB solved for me: spaghetti tubing. I bought some of this stuff from eBay which seems to work pretty well. I've yet to take the bike out for another shakedown ride but will try to take care of that in the next couple days. Will tape the bars once I'm happy with the brake lever position and take a couple more pictures then.

Thanks for the inputs.