Keep as is. Mine still is, but with new shiny chrome fenders, rack, bell, lighting and front derailluer. Check the ground too, bike one side of circuit. UE-8 just looks wrong stripped.
Tried a 700cc on the front, issues with reach. Pads were in sidewalls. Nah. 27 x 1.25 rims out there, alloy. Tires too. Also my speciallized seqouia has the 700 x 23 cc rims and tires. Lousy on gravel/dirt roads. Much prefer the 27".
Simplex rear deraillluer still works fine on mine. "If it ain't broke....don't fix it.", my dad alway's said...... He never was much for maintenance too, but that's beside the point.
Not keen on SS, especially fixed. That severed fingertip on Sheldon's website I did not need to see.