What is the long list of small things wrong with it?

I have a '72 Sports Tourer (same bike different name) that rides fine with the original components. I even kept the huge Schwinn approved model J skiptooth freewheel.

The resale value of your bike depends on the buyer. If it is a Schwinn collector, they would not like the new components. If it isn't a collector, they would probably strip off the nice components on that 30 pound bike and put them on a lighter frame.