Re:
I know it's nothing that special but what makes you say that? I got it cheap and wouldn't spend much on it (I don't on anything!) but it rides nicely, is unusual and a Columbus frame is never a waste of time IMHO.
But I feel the look is let down in particular by the rear mech. Budget for that is under £15. And an item like that is unlikely to lose its value if the frame fails.
Ditto the wheels, I got them cheap and they should retain value.
The old wheels were unsalvageable but the proposed new rear mech is mainly for cosmetic reasons.