Hackin' up a decent, complete working bike like that for the sake of hacking it up is a crime against humanity and punishable under UN regulation 804.2 section 11.

IMO, convert junk that isn't worth fixing up/refurbishing/restoring. Just like hot rodding an old car, you don't go buy an original unrestored running/driving vehicle and start chopping/souping it up...

my 1st fixie was one of thesse, man, you just took me back haha. Awesome find for a conversion btw.