I'm curious why you have any concern of what someone else (i.e. the market) will pay for the bike?
If it's for your own use, it's a small investment that might offer recreational wrenching and riding value far beyond it's market value.
I "developed" this cheap Austrian bike's function, form and fit over many week's time for my own pleasure, yet it's market value is still too low for me to worry about, perhaps still less than $200. And maybe that's the beauty of it. It's still fun to own and even more fun to ride, and makes an attractive, somewhat rare conversation piece as might your Falcon/Merckx find. It's up to you if the bike seems cool then it is cool, and you
can go fast on that old bike!
Oh, and here's the same bike after only "round one" of tinkering and riding over the first few fun weeks (I have over three thousand miles on it now, some ~4 years later).
