You buy a bike and you change the bits you don't like much. Nothing wrong with that. It's not exactly like painting a moustache on the Mona Lisa, is it? Keep the original bits, or put them in the bin. Your bike. Just expect other buyers to be a little less enthused than you about your modifications when you come to sell it. They will want to add their own dubious modifications.
Don't you think you should bling it up a bit? Some carbon fibre and anodising. If you're stuck for ideas, talk to Sinister - I'm sure he could help you.
Its galvanised, got an undercoat and a finishing coat of hamerite, in racing red. Much better than that carbon crap. I think it does need a new wheel bearing.
Its a racing barrow, built for the track, brakes add weight. It not used for carrying bricks and only used on sunny days.