I'm with Michael,
I ride a 20+ year old Raleigh Sprite 10, with full fenders and stem shifters, that has been modified throughout the years. It now has Campy hi-flange hubs, Mavic G40 rims with 700x23 front and 700x25 Conti 4000s, Shimano 105 crank and rear derailleur a Brooks saddle and cork handlebar grips. Front rings are standard issue 53x39 and rear is a 13-23 6-speed, and I use all of them depending on climb and wind conditions, as I ride 12 months of the year. The frame is cheap, but feels great to ride. The set up, what I really roll on, feels great and goes FAST. As a daily commuter I would be very reluctant to change it. It's very comfortable in an upright position, that's needed in heavy New York traffic and I found a way to tuck comfortably with my hands on the front curve of the upright bars when I hammer.
The bike new in '83 was circa $200 and as time went on I just couldn't see buying bad parts so it got good stuff and I never regretted it. The whole is definitely worth more than the sum of it's parts. I really do enjoy the ride.
Vicente O. Saraco, D.C.
Brooklyn, N.Y.