I've been gradually building up an old Fuji S12-S road bike that I bought on eBay a couple of months ago. I've set it up as an all-around bike for rides around town, to the store, to work (once in a long while) and whatever. Here are some pictures of the results:
I was able to use most of the original 1980-ish components with a few replacements and add-ons. I took everything off the frame, cleaned and serviced the parts, painted the frame with flat brown Rustoleum and put it all back together. I added fenders foe all-weather rideability and put stickers all over it just to be different. The heart of any bike is the frame. This one is a 58cm lugged 441 chromoly steel frame with fairly slack geometry, making it a very stable ride.
Parts include:
Fuji-branded Sugino double crank - original
Fuji-branded Suntour VX derailleurs - original
loose ball bottom bracket - original (replaced bearings)
Tange headset - original (replaced bearings)
Ukai 27" rims on 36 spoke generic Japanese hubs - original (replaced bearings)
Kenda 27X1-1/4" tires - new
Nashbar 6 speed 14-28 freewheel - new
KMC chain - new
Kalloy 26.6 seatpost - new
Brooks B17 saddle - I had it laying around
Nitto Dirt Drop stem - I had it laying around
Nitto Moustache handlebar - I had it laying around
"Schwinn Approved" Suntour friction bar end shifters - laying around
Dia Compe "G" brake calipers - original
Kool Stop Continental salmon brake pads - laying around
Dia Compe "G" brake levers - original
Planet Bike hardcore fenders - new
MKS track platform pedals with steel toe clips and leather straps - laying around
Cheap Chinese rear rack - new
Campagnolo top tube cable guides - NOS from eBay (had to have something Campy on the bike!)
I've taken the bike on a few rides up to 25 miles. Everything works better than I expected. The bike rides very smooth and stable and is very comfortable.