I have loudly professed retrogrouch tendencies. While the above isn't a super sweet Paramount or something, it looks like a decent ride in in good condition. Looks like foam bar wraps, I'd be inclined to toss those for some cork tape and get a different saddle.

Maybe swap out the pedals for either clipless or some GR-9 platforms unless you still have some old slotted cleats that fit.

If it were mine, I'd ride it.