Sam,
I see a place for both approaches to caretaking vintage bikes. All should be ridden, with very few exceptions. Monetary value of bikes compared to cars is irrelevant; some bikes have history and/or historical value. Some bikes have setimental value. As reference for restorations, original bikes are extrmemely important to someone like me.
Personally, I like to have some bikes, "old soldiers", in original condition, and some bikes that are restored faithfully. Other bikes in my collection suggest that some modernizing is OK or a non-stock restoration will not effect the value of the piece nor decrease my appreciation of it. When I see an early Carlsbad Masi that has braze-ons added and a bunch of chrome plating done, I feel as if the bike is worth a lot less than one that is untouched, even if the untouched one is beat. To me, the money spent for the "rework" (a considerable) amount, is wasted. And it will cost more to put back to original as well.
I am selective about what I do on my personal bikes. Generally though, if I change something on a bike I still like to go period. I virtually never just throw parts at a bike just to make it workable without any consideration to what is "proper" for it. By the same token, I don't get carried away to the extreme sourcing parts for most bikes; like trying to make an old bike NOS or having to have exactly the right date of nut, der., crankarm, etc., etc., on every bike. With 50 bikes and counting, that would be impossible for me. A few bikes, yes. The best way to do that is to find an original bike intact. Once found, they should never be messed with, not for love nor money. Especially for MONEY. Leave the intact originals alone for Gods' sake!
So I say there is room for several approaches to keeping bikes. Making logical and practical choices about what to do with which bike is each persons' personal duty. Hopefully we make wise choices!
Brian Baylis
La Mesa, CA
The best of the season to EVERYONE!
Our bikes are not worth a fraction of any classic car nor will they ever be. Do to them whatever floats your boat and don't worry about what anyone else thinks. Remember friends this is a hobby (though for some of us it is a lifestyle and or subculture) don't take it too seriously because the line between hobby and insanity is very thin
Sam DiBartolomeo
Happy Holidays from Riverside CA