Thanks for all the additional info. Seems like the frame is worth using for a commuter, especially given the awesome clearance it has!

The blue U-08 I have is in pretty good working order and has all original working parts (including the rear and front derailleur’s, but sadly not the saddle), so I need to decide what to keep and what to replace.

The only thing I have a problem with is that the steering seems a little wonky, for use of a better word. I hope that I don't need to replace the headset, as I have read that French threaded ones are hard to get hold of and I may need to swap out the entire fork, which I don’t really want to do.