I just fixed up my old bike after it sat for a bunch of years, so that I could commute and run errands without worrying about theft as much. It is definitely worth your while to get it sorted out, and will give you a chance to get used to road bikes in general.

I have my old Schwinn lightweight back rolling now, my girlfriend pseudo-inherited one from the same era as mine and LOVES it as well.

They are also a lot less finicky to figure out mechanically than the newer gear. It's easy to replace cables on friction shifters, less so on indexed brifters (IMHO.)

Plus, people on C&V are generally really relaxed and helpful... big plus.