I found this forlorn 1957 Raleigh Record Ace Moderne in a basement, after the owner passed away. All the chrome was rusty and all the alloy bits were pitted. But the 23" Reynolds 531 frame only weighs 4lbs 3 oz. and is the straightest production frame I've ever measured. Also, I'm a Sturmeyphile and
AFAIK this was the last race worthy bike sold with a hub gear. (Though by '57 I'm sure most racers spent the extra couple of British pounds for the 5 speed Cyclo-Benelux option.)
If the paint is even half-way decent, I prefer not to respray. They're only original once. But my meager finances and the lack of reproduction RRA Moderne transfers would have dictated this attitude anyway.
After tracking down a way too expensive pair of 27" 32/40h rims, the correct Williams C1200 chainring and buying two Sturmey FMs (the 1st one cost me $140 including shipping from GB and was absolutely shot) I started polishing my fingers to the bone. By the 2007 ABCE, where it was voted Best Restoration, it was looking fairly original, with a nice patina.
However, I couldn't ride it in anything resembling comfort. My recumbent coddled ishcial tuberosities could not come to terms with the beautiful old Brooks B-15 I'd installed, so a wider, sprung B-67 replaced it.
I have arthritic hands and shoulders so the 39cm steel bars and lovely steel Raleigh stem were replaced by padded, 45cm Nitto B115s, splayed out to 49cm at the ends of the drops, in a taller, modern "comfort bike" stem.
These old legs need wider gearing than the FM can provide, so now there are 24t and 18t cogs on it's driver, shifted by a Huret Svelto and a SunTour BarCon.
It's a bit of a FrankenBike now, but I can ride it all day. And a sweet ride it is.
All the old parts are stored away for the day it passes to my son.