Here is my wife's mixte that we bought used in Wisconsin about 18 or 19 years ago. It was in excellent condition when we bought it. We just didn't ride together as much as we thought we would (kids have a way of changing priorities - but in a good way). It's a Raleigh Record - a really nice bike. Since we moved back to Indiana 13 years ago, it hasn't gotten much use, and spent much of that time in the barn.
A rusty old crank. A little TLC, some extra fine steel wool and oil will hopefully bring back the shine.
It even has a Brooks saddle. I think the saddle is the single component that is in the best condition.
Really cool logo on the seat tube and the head tube also. The paint is in good condition - I'm just going to clean really well and leave as is. This bike looks like a classic and I'm not going to screw with those good looks. I may replace the rims - the existing ones are steel.
I'll keep pictures posted as I go, but won't get started for maybe a week or so. The next several days will be spent visiting colleges for my daughter. This bike will be hers - maybe even to use on campus.
Thanks Jon & Myles for the inspiration!