A proper fitting by a competent person.
Correct tire pressures for you. (Note: This is probably MUCH lower than you think - migen21)
The ideal tires for you.
The perfect saddle for you.
The rider (fitness, core strength, mobility).
It's a cost benefit analysis kind of thing and I actually don't think it is a ridiculous question to be honest. I wouldn't invest more money on that bike if it were me. I think you would get a lot more value by going with a newer bike like an Allez Smartweld, Sprint, or (entry level) Tarmac, etc. Now, if your plan is to upgrade components anyway, your frame is solid like other folks have said and it may be more economical to get the wheels and components you want now and then upgrade the frame once you replenish you bike budget, etc. The reverse can be done as well, keep the wheels and components you currently have and then just add a sweet frame to ride. Components and wheels can be upgraded a little at time down the road, etc.i enjoy the bike, basically i was wondering if a newer bike would ride better, or upgrading it would give me a better feel for the road.
im into cars , technology has changed so much. A Porsche of the 80s isnt going to perform like a newer one.
thanks for all the replies!