Leave it as is
or work it right over?

Nice score at the Salvos for $20
is in nice nick
only had time for 5ks on it but apart from brake pads and some tyers it look and feels good

Nice Color! For $20 you pretty much stole it as the World Market (Reads E-bay) price is between $150 and $375ish.) Great Score!! I can't say one way or another based on a single photograph as to what you should do with it. I see a little rust on the shiny parts so it's not a prisitne example for keeping in a hermetically seal glass garage.. I'm more of the Product Improved Twenty School of Design so I tend to think along the lines of keeping close to the original spirit as possible. So I beef up what is already there. On mine I upgraded to a cartridge bottom bracket, cotterless cranks 170mm in length (kept a 44 tooth chainwheel up front so the chaingard can stay on), a more comfortable saddle (a Brooks Conquest), better rims (Mine came with 405mm chrome steel rims which may as well have been made of ice for their stopping ability). In fact, I came up with a a complete alloy rimmed wheel set off of E-bay which made swapping rims a whole lot easier. I also keep the fenders on as I find a fendered bike a whole lot easier to deal with on a day to day basis in wet climates than an open wheeled bike. Also new tires, tubes and brake blocks round things out.. The only thing I might consider is a better rear rack as Pelchers suck and even though a standard rack might stand a little proud the benfits of being able to mount panniers cannot be ignored..

Yes your right on new wheels...
and yes I like to ride any bike I own,
no keeping then under glass for me.
Dosen't rain hear much but I kind of like the look of the "fenders" so I'll stick with them.
Yes not much stopping power at the moment so need to work on that....

And the gearing [with hills] may need looking at .....maybe change the 16 for a 22t on the back would do it?

You said that you picked it up at the "Salvos." Does that mean a salvage yard? Others from down under have mentioned on this forum about picking up bikes from salvage and I wondered how that worked in Oz. Are these general salvage yards or just for old bikes? However it works it seems to be a good deal.

"salvos" - Salvation Army Opportunity Shop.
In Australia R20's sell on ebay between Aus$50~$120 every month or so.
Before you rehabilitate that bike, price your parts because its going to break your heart or your wallet.
And theres always some poster who will say, "but for that money you could have bought a...."
If you haven't done some searches already check out https://www.flickr.com/search/?q=raleigh+twenty+&m=text and you will be Lost in Love (thank you Air Supply).

Let's be honest.. You don't mess with Twenties to save money (Unless you have all the parts on hand already and put no value on your time.), but to either restore a vintage bike to how it looked when new or to make a bike that is unique and fulfills a role that you have envisioned. At the core we're still dealing with frames that are based on technology and ergonomics from 30 years ago and for the time and money there are bikes that fold up tighter, more portable, more comfortable, lighter etc.. However, the Twenty has a ... something. Character perhaps?? The ability to have other cyclists do a double take when spotted on the road??

I always saw Twenties as a beautiful but quirky, freckle faced redheaded woman of the cycling world. She doesn't look like much at first glance, on the second look you see how attractive she is, then you discover how infectious her personalty is and your hooked.

>"salvos" - Salvation Army Opportunity Shop.<
I like the "Salvo's" they are always there at the front [be it a bush fire or war] and have a cup of tea or a feed for the down and out...
Yes there is one in most towns... sell cheap secondhand stuff.....like bikes
Bike there in my town run for about 20 to 50.... mostly crap wal mart like bikes but now an then a gem.

>Before you rehabilitate that bike, price your parts because its going to break your heart or your wallet.
And theres always some poster who will say, "but for that money you could have bought a...."<<

I don't know....
but...
It's not in bad condition and dosen't need a whole lot to be a fair bike...
That been said I could go the whole hog and fix it like new

you already know these no stopping a bike nut

Sirrus Rider... mate lets not be to honest ... or we might have say how much we spend on our bikes.
I agree with you that some bikes just need to be fixed back up and riden

https://www.flickr.com/photos/37751576@N00/176197872/