Due to the amount of text and pictures I'll publish the story in chapters.
Follow the story!
1.) At a glance
https://hackaday.io/page/10419-1-at-a-glance
2.) The front wheel
https://hackaday.io/page/10420-2-the-front-wheel
3.) The rear wheel
https://hackaday.io/page/10421-3-the-rear-wheel
4.) The bottom bracket
https://hackaday.io/page/10425-4-the-bottom-bracket
5.) The chainwheel (Pt. 1)
https://hackaday.io/page/10435-5-the-chainwheel-pt-1
6.) The gears
https://hackaday.io/page/10470-6-the-gears
7.) The brakes
https://hackaday.io/page/10471-7-the-brakes
8.) The chainring, Pt. 2
https://hackaday.io/page/10478-8-the-chainring-pt-2
9.) Doing small things
https://hackaday.io/page/10479-9-doing-small-things
10.) Summary
There's something about the look of Vintage bikes. I ride late 80's Radius "Peer Gynt" to work from time to time.
Love to see how your acquisition shapes up.