Somebody said not to sink money into this, but someone else then told you to get fitted at a bike shop. I've never been fitted by a 'bike fit expert,' and while the idea sounds nice, if a person's not going to be racing and riding 50 miles per day training rides, I think that's as bad as a money sink; especially b/c one of the things they'll tell you when you get fit is you have to swap out every piece of componentry that'll "hurt your back and knees and hips." Bike fit doesn't have to be that much of a science for a person looking to commute and ride for recreation or just personal joy.

Personally, I like having at least a tiny bit of standover height, so when I come to stops in the city, I don't always have to be ginger about "the boys." If your rides are very long w/o stops, then you can maybe get away with the no-standover-clearance issue.

As far as the bike you're showing, that'd get a decent chunk of change here in NYC, and it looks like a lot of the parts on their are upgrades. If you are looking to maximize your available money from the bike, then do as others recommend and sell off the parts. The other option is to ride this and search for a decent road frame in your size. Shouldn't cost too much for such a frame. Then you could just move all the parts over to that, and sell this frame. Univegas from the 80s are nice, well-made steel frames, and they have beautiful paint jobs (clean and polish that puppy up!)