I recently scored a free 1974 Deelite Apollo 10 speed. As far as I can tell, it has all original parts, but most of the stickers have faded out and there are a few places where the paint has failed completely on the tubes.
As a project bike, would you consider stripping and painting the frame, or simply replace what needs done (tires, bar tape) and ride it as is?
I just looked at how much the coating costs (100 - 500$) in my location. Some can restore it with stickers… but it adds to the cost. I have access to few old Favorit frames (old ČSSR bike maker), you are lucky to get 100$ for bike in perfect condition.
So go for it, I wanted to make some beater bike (for commuting) and I consider using it.