I think that's an awesome idea. I have thought about turning a modern road bike into a fixed gear, but it requires a lot of money (eno hub) that I don't have. If you have the funds, you should definitely go for it! It will be super fast and a joy to ride.
The truth is, track frames SUCK for riding on the street. How many of y'all do 50+ mile rides on your track frames comfortably? Probably none, unless you're lying.
I myself ride one of the only production fixed gear bikes that has road bike geometry (sputnik) b/c it's way more comfy than all that tarck crap.
Riding fixed is a joy but being hunched over on a track frame is a pain. Thus converting a modern, lightweight road bike into a fixed gear is a GREAT idea.
I say you put some drops on it w/ hooded brake levers. That will get you that really comfy road bike positioning. Everything else looks golden. Get yourself a rear wheel and you're set.
Also, don't debrand it.