I am looking for a new Bike and told my son to fix up my old one. He thinks it is an "old man" bike, but I told him back in the late 80's it was a quality Bike.
It is a Raleigh Rocky II, RG8 02894 (I think this means an 88 or 89 manufacture date) Cro-Mo seamless tubing Tange 5, Suzue hubs, Sakae crank, Shimano SIS, Made in Belgium rims.
Tell him with new tires, disc brakes and front suspension he would have a really good Bike.
Just don't tell me I'm old : )

You're not young

Hate to break your heart, but he would be better served with a modern and safe bike. The cost of upgrades could easily fetch a decent ride for the boy. I go through this often with kids (I'm 39), today's bike tech is light years from "back in the day." Just think, how practical was it when we got 20 year old hand-me-downs from the old man?

Peace.

My favorite ride as a kid was a 20 year old POS.

Fixing up your old bike would probably be a good exercise for him, and may ignite a spark for such a hobby which could serve him well for many years. However, if you want him to learn to enjoy riding for its own sake and have a ride he can enjoy for many years, buying a modern bike is probably a better answer.

If he sticks with it into his 20's and beyond, he'll eventually come to appreciate the Raleigh for what it is. If he's forced to "settle" for it now, he'll probably hate it for being heavy, clunky, and much less cool than what his friends have. In 3 years it'll be covered in duct tape and stickers and converted to a fixie. :^)

But what do I know, really? My daughter's only 1, and I'm trying to be patient until I can reasonably teach her to ride...