That Bianchi looks like it's in terrible condition. No.

Build up the pooj. You can do this on the cheap and still look decent with:

Weinmann/Formula wheelset from ebay (user wheelandsprocket) - $160
Tires/tubes (research) - $40-$60
Sugino RD cranks - $55
Chainring/bolts/cog/lockring - $40
New stem - $30+
Front brake with TT lever - $50?
Bullhorns and tape - $50
Chain - $20

Eh. Not that cheap -- I'm sure you can find a lower price.