I think as long as you are having fun then do what needs to be done!
I was going to put new parts on to my Vintage frame, but now I'm caught in the allure of the old 85 C-Record Gruppo for my build, sure it shifted crappy in index mode, and sure the Delta brakes didn't stop worth a damn, however that's not what I'm after this time. I already have a bike for that purpose, I need something with all the idiosyncrasies of the olden days of my youth
BTW that frame looks like a great starting point