I've been thinking of getting a bicycle for around-town runabout use and to get myself off my lazy arse (I'm hardly overweight but my job is very sedentary). The terrain is mostly paved, hilly, and subject to New England weather. My dad offered me his old 1977 Schwinn Sportabout 10-speed and said I was free to use it and wrench on it (but not sell it). Aside from rotten tires it appears to be in good shape, though it could probably use some greasing and such.
From what I can tell it was one of Schwinn's cheaper models, the frame is on the heavy side, and it is not really worth much on the used market. However, you can't beat free, most of the parts from the better model Schwinns fit, and it is somewhat rare. This website has started filling my head with ideas:
http://www.thebicyclingguitarist.net/schwinn/index.htm
Modern, lightweight aluminum rims, quick-release hubs, racks or saddle baskets, and a better saddle would probably be my starting points.
Am I better off starting off with a newer bicycle on CL, or is this 70's relic a worthy starting point for a neat project?