Nice bike, and a very desirable collection of components. I would get it road ready and ride it before making any decisions. You can play with the seat and stem adjustments to try and find a sweet spot for your riding position. If your stem length isn't correct, post it up in the "For Trade" sticky, stems are one of the more plentiful inventory items in everyones parts collection/box/pile.

While not a traditional commuter, it doesn't mean it can't be used as such. You can get rear racks that attach at the axle/skewer and attach to the seat tube. Nashbar and performance have rally affordable trunk commuter bags to keep stuff off of your back. If you find you will be riding in rain, there are clip on fenders as well.

Heck, it was free to start, so you have some room to experiment. So far you have less than $50 invested, and you won't touch a similarly equipped bike component/performance wise for less than 10 times that new, if not more.