Hello-

First posting. I'm planning to pick up fixed gear riding as a hobby, and am looking into buying a new one OR converting my early 90's peugeot road bike. I just wanted to get some input or advice on which would be the smarter idea and which would be most cost efficient. Some factors:

a) I'm a noob.
b) the peugeot is old and the only salvageable parts would be the frame, handlebar, maybe the crank, and maybe the seat. It'd need new wheels, a front brake, lockring, probably a new chain, cog, etc etc etc. and I need to double check if it has a vertical drop out or not.
c) I DO have some sentimental feelings towards my peugeot.
d) does it look ridiculous to ride a new fuji? or is it cooler to convert an old frame? (yes I am self conscious)

A new fuji track 2007 is selling at my local bike shop at $500, would converting my old bike cost as much as this if not more? which would be more reliable? would converting be something left to the more seasoned fixed gear rider?

Any basics fundamentals I should be aware of before hopping on?