Where are you located? There might be a C&V member in the area or a decent bike shop that could help you out.

Near as I can see it, all it needs is a pair of 700C wheels (plus tires + tubes, of course), rear derailer, chain, replacement crankset (only so the Colnago crankset can be allocated to a deserving Colnago), new brake pads, cables, and a lot of tender lovin' care.

It may sound like a lot, but many of us could do the above in a single day if we're particularly gung-ho about a project, and have all the parts available. Don't admit defeat before you've started!

-Kurt