Been thinking about this, and now I have a name/make I did a bit of googling, found a thread on the same frame but diferent colour posted on here a few months back.
To be honest its not a bad frame, and if you put into context the age, (92-94ish) and the amount of use and abuse its had over the years, its still straight,dent and crack free, unlike some other massively expensive retro dream machines out there that suffer cracks at various points on the frames (KLIEN to name but one)
So im going to hold off stripping the paint job and build it back up using parts I have or bargain bits I can pick up.
I know its not going to be worth a fortune so not going to spend a fortune, just have fun with it to re live some memories
It came in many guises as has been previously suggested, Coventry Eagle, Townsend, Al carter, British Eagle etc.
They were actually sold with different varying specs right down to Shimano GS models. They were also sold Unbadged from retail price points from £49.95 to anything up to £175 dependant on the how much the dealer felt he could achieve.
I appreciate you "keeping it in Context" point of view, but with respect your comparison is a little unfair, given the Tube manipulation and lengths brands like Klein went to, to benefit the rider with advantages such as reduced weight, and ride feel/characteristics.
Low grade plain guage aluminium these Brands were not, and to be fair to them..... at the upper echelons you are taking about, at the time they weren't Expected to last more than a certain period of time given there actual intended use. (predominantly the XC racing and cross country enduro.)
You have had it a while, so I can appreciate your sentimental value, and I think you are doing the right thing in building it as you have suggested, eventually I suspect "IF" used in anger/or the gears are not adjusted correctly you will inevitably damage the NON replaceable rear gear hanger.
I think the best advice you could be given right now, is to use this frame as a spring board, use it as a base and use retro bike at its best.
There are plenty of members using aluminium, and many many frames can be bought for not much money.
Experiment try some new frames, a basic klein Pulse for Example can be bought for as little as £50.00 and whilst it may be under the Trek banner, it will still have a Gradient frame with a Chehalis made rear end, and im confident it will surprise you if you decide to take this sort of Journey.
What have you got to loose...?