Yet another "what have I got here?" question.

Thank you once again for the replies and for the heads up. Putting the bike back together would be an act of pure pragmatism really rather than completely nostalgic. The bike may have kept it's dimensions since I last took it out, but the rider most certainly has has not. If it were a motorcycle I'd be clucking about and trying to get the "correct" bits, but it's not and I know next to nothing about bicycles so "correct" is virtually meaningless to me in this context.
My average speed seems to be 12MPH and my average distance around 20 miles. Very much a fair weather cyclist and carrying too much weight. As far removed from what you'd call a cyclist as one can get really.
My MB is fine (an ally framed Claud Butler Cape Wrath that I bought new around 2002 ish) for my needs but I did consider buying something a bit more road focused on account of the sparsity of mountains in Lincolnshire and my currant disdain for cycling up hills.
Rather than spend several hundred pounds on a budget road bike, I decided that I could look into paying someone to recommission what I've already got. At 17st I don't need a carbon fibre, streamlined wonderbike with Bluetooth gears and disc brakes. I don't need the Falcon I have to be original, or even look good, just something to bimble about on during the nice weather and point at things when I reach my destination.
Does that sound realistic at all, or do I have slightly optimistic plans for the old thing ?
I think entirely realistic. I think it could be made to look nice, it would require time and care. Money spent should be minimal.
 
It certainly sounds like the perfect use for this sort of bike – but I do think if you're paying someone else to do it, you're easily going to be talking about £100s. For example – removing the bottom bracket could easily cost £40 in itself, as it looks pretty well rusted in, so the frame would need heating up to remove it, potentially. Economically it only makes sense if you do most of the work yourself – although it would be interesting to know what a bike shop would quote you for a rebuild.
 
Doesn't look very Falcon like, Used to sell them in the bike shop I worked in and it doesn't look familiar.

Theres Mandobob on Cyclechat who I think is the VCC guy on Falcon but not sure if he comes on here?
 
It certainly sounds like the perfect use for this sort of bike – but I do think if you're paying someone else to do it, you're easily going to be talking about £100s. For example – removing the bottom bracket could easily cost £40 in itself, as it looks pretty well rusted in, so the frame would need heating up to remove it, potentially. Economically it only makes sense if you do most of the work yourself – although it would be interesting to know what a bike shop would quote you for a rebuild.
I think you're right. I've watched a YouTube video or two and certainly agree that some jobs are more than likely beyond me. That bottom bracket may well be a complete pain in the backside, so I'll happily hands that over to a tech. The majority of the rest of the work is do-able by myself and then let a tech do the "clever bits" like making the gears work and the brakes work. There's nothing that needs straightening as far as I can see.
I think that the first job is locating a pair of suitable wheels. But only once I've found the two or three missing items that are still floating about the shed.
 
Doesn't look very Falcon like, Used to sell them in the bike shop I worked in and it doesn't look familiar.

Theres Mandobob on Cyclechat who I think is the VCC guy on Falcon but not sure if he comes on here?
Having had a look at the 1978 Falcon catalogue I'm quite satisfied that it's a Falcon. Not that it makes much difference what it is to be honest. In need of TLC would probably be the only description worth giving it. Seems a bit of an odd thing to do to cover it in Falcon decals if it's not a Falcon. I hold my hands up and plead total ignorance on the subject, but having a quick read up on the factory seems to suggest that around 1978 they were somewhat at sea. What's more, the model range on offer seems to be best described as incestuous. If there was a basket of parts available then they made a bike out of them, what that bike was called was dictated by which decals were in the decals box at the time. Of course I'm exaggerating for effect, but what little I've read certainly gave me that impression.
 
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