This is what I would do.
Pick it up for 75 bucks or less.
Take off the rear end.
have manchester1 make me a new seat.
have the frame blasted and paint it up
pick up some used 5 or 6" wheels
clean up the b/s engine and add a clutch.
Ride the crap out of it.
What I did:
got me a cheap project and had some fun building it
Pat
Upper left pic
Then you will look like this when your riding your chick magnet.