I think I'd go for a new bike, myself. Maybe last years model(of whatever) to save some money. It sounds like a lot of work, time and money to fix up your old bike and my guess is, a newer bike will have benefitted from a dozen or more years of advancements in design vs your old bike. If you're patient, it's getting later in the season, stores are starting to think about moving their remaining product. Also, never been to it, but the fall bike show in Toronto might have some good deals.

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