Summer project - suggestions for a Steyr Clubman

Here's this year's summer project bit of fun...it's an Austrian Steyr Clubman, I'm guessing from the 70s? I'm picking it up as it looks in that photo tonight. Any suggestions on the project?

I'm in two mind how much to keep it true to the original, which I like the look of over all, or whether to use modern "upgrades" and experiment with the look too. If I upgrade parts, what do you folks recommend with regards to the usual suspects such as stems/posts, gears, wheels and so on. Feel free to suggest what mods you'd do.

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If it was mine I'd get rid of the front mudguard, grab on bar padding,saddle and toe clips and replace with period correct items. It's an entry level bike so be careful with the spending.

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I think I'm with you on those choices...I took the perished red foam off the bars last night, and squirted some Plus Gas Formula X into the rusted moving parts in readiness for starting to service it, and it looks like it's crying out for a sympathetic job, but maybe a couple of nods to the now.

First nod I'm wondering about is trying to fit a 6-speed sprocket set on that 120mm rear hub. Anyone know whether this will fit...it looks like there might be just enough space perhaps? The current rear derailleur is a Suntour or Sunrace thing which I'd guess is late 1990s/early 00s from the look of it. I like the sound of the hill-friendly low gear on the Shimano HG40 14/34 Mega Range...anyone know whether I could potentially squeeze that on? The front derailleur is a cheap and crusty-looking Simplex affair (original though, I'd say)...I'm doubtful whether it's actually possible to reliably get it going, so might look to upgrade that with something that at least works!

I also think silver-coloured plastic full guards, white modern seat, leather-look perforated white bar tape, white brake/gear cables and white-walled road tyres might be a nice nod to the retro-aesthetic.

As it appear to have steel rims I would ditch them immediately and look for some decent aluminium ones. The handling will be nicer and the braking safe. Steel rims in the rain are deathtraps.

Good call hamster...I might stand more chance of squeezing in an extra rear cog too that way. I think some polished aluminium jobs would look a treat and, as you say, improve the riding and braking. Along with some bigger modern brake pads too perhaps? The trick might be finding something that'll fit the 120mm width of the drop outs...unless I look to splay the drops out a bit to accommodate something more modern.

Also, the white coaching stripes and "Clubman" logo look to be painted on...so my original thought of a good rub with T-Cut to bring up the surface and remove a bit of rust staining might pose a threat to the aesthetics.

Just a project update...I'll maybe take pictures in due course. The bike is almost completely dismantled and ready for work, except I can't get the crown race off! It sticks at the final few turns on the top of the fork thread. I'm awaiting a larger set of vice pliers, and might have to try some heating/cooling too. I've already been using the usual penetrating lubes to loosen it up. I wonder whether the very end of the fork thread is slightly splayed or something, but I'll hopefully apart by the weekend.