Saved from trashman- suggestions?
 

Hello-
I'm sitting here with a ladies' Raleigh Record from a garage sale ($10).
New, it must have looked:
http://sheldonbrown.com/retroraleigh...76-record.html

It looks pretty lightly-ridden. The Simplex derailer has a slightly eroded plastic tension pulley. The other one is fine. Also, my Dad accidentally broke off one of the plastic shifter handles. D'oh! The brakes, according to a cycling friend, are good. I have replaced the tires and tubes and cleaned the hell out of it.
I am small (5'2") and would figure that it's too big a bike for me. 26" wheels, after all.
I absolutely don't want to spend more than about $50 getting this bike working. Or about $100 on a new(er) road bike (for fitness/short-haul transportation). Cost is a very big factor (financial constraints), as is avoiding knee injury and such from an ill-fitting bike.

1. Is this Record a total piece of crap, and should I junk it/try to sell it for parts? Can I get anything for those parts?

2. Or purchase the parts/and also a mechanic's attention, then try to ride it? How much is that likely to cost?

3. Alternately, is there a model of vintage bike that would be good for a small person AND turns up on Craigslist/at garage sales a lot?

Please give me any advice you can, and thank you in advance...

Your pics not working :( We really need to see the bike to help you. BUT, Ive had more than a few mens Raleigh Records and they were all fine bike :thumb: You can find replacement parts for it at any GOOD bike shop. Good luck (and post pics of YOUR bike)

I will try to get a pic of it. I described because I don't own a camera. Which part of the bike would be most helpful to shoot (a picture of)? I am a newb with bikes, as you can see. : )