Thanks for the good pictures Robvolz . In the picture of the shifters, it looks like someone used touch up paint on missing paint.

I'd ride it. But I think the question is "why put all these good parts on that particular frame?". I haven't had any experience with the Peugeot Carbolite frames, however Peugeot has a history of making good low end frames that ride well. My guess is that the previous owner liked the bike and threw some good part at it a bit at a time. That is sometimes part of the fun of old bikes. I would certainly entertain doing something similar to a UO-8 or old Motobecane.

Hey, I was a bike snob once. I probably said the exact same thing when I was younger. All's good.

There was this technique of getting better things that applied to bicycles and Hi-Fi equipment back in the 70's. Get the best bike you can. As you get more experience with it upgrade the parts that you feel will make the bike better, (or the parts that wear prematurely, like the Simplex derailleur) and eventually as time and money allow you have a better bike. Then look for a better frame to hang all those good parts on. Some parts from my lowly Windsor International went on my Serotta that was purchased as a frame only.