What to do?! Suggestions needed

[MikeyC]

Good evening all.
I am in a quandry. I am going to be coming into possession of a late 70's early 80's hand built British 531c road bike. I. believe it is mainly shimano 600 of that period and requires new brakes.
I don't want to give too much away until I receive the bike from my father which will probably not be until late summer. It is a bit of a family heirloom so want to do it justice. But the big question is do I remain loyal to the time and keep/replace as required with period components or do I go for a nice classic frame and forks with classic stem bars etc but a nice modern group?
I would like to put some modern wheels on it as I think modern wheels and classic frames look good, which also has had me thinking about putting some modern shimano on iit as well.
I know what I am suggesting may be deemed as blasphemous but please bare with me!
All suggestions welcome so don't be shy!
Thanks for reading
Mike

 

[predki]

I would go for more or less period correct equipment and retro wheels. If it needs just brakes, why not to find matching ones, service the bike and try to ride it, maybe you will like it? You can always swap the grupset for a modern one. If you're going to fit new wheels try to find set with nice low profile, box section rims. Avoid deep V, because they look completely, absolutely wrong on old bikes (the same as bmx pedals and mtb handlebars...). BTW I think you can find quite a lot decent retro wheels around. If you think about repaint, think twice.
Photos, please

 

[MikeyC]

Re:

Thanks, I am thinking about a repaint in the original colours by the original builder. With period stickers and graphics etc.
I rode the bike years ago as a teenager and lover it, but it was always dad's bike until the weekend when he informed me that I could have it! Haven't laid eyes on it for years. I am more than happy to stick to period, if I remember it is a mostly complete group set, so would be a shame to not continue, but I was thinking that a modern group set would be more user friendly for everyday riding.
Having said that though it maybe a very sunny day only bike with no rain for four days either side of that one sunny day!
Pictures will follow but until I get my garden sorted and man cave up and running it's having to stay with Dad!