This is my dads old Raleigh Record Ace, a good 20 years old now, He’s too old (80) to ride, and he gave it to me. I’m not really sure what to do with it. I would quite like a road bike, but I think it needs new brakes and gears. What should I do with it? Sell it? give it away? take it to the dump? or rejuvenate with paint, service, replacement gears and brakes and such. And if I want indexed gears could I fit new indexed gears on this 6 speed hub? General help needed! really could it be brought up to date?

turn it into a fixed gear and use it to get to work.