I'm in something of a reflective mood today and came across this thread so thought I'd update. I still have this bike, still ride it regularly, still love riding it! I have made a coupe of additional upgrades since the first proof-of-concept build. I have changed the gearing from the original 34T x 11-36T to a 36T x 11-42T setup, so wider with some bigger gaps, but all the better for climbing without being too spinny on the flat. This required me to add a drop link to the derailleur to clear the big cog, but it all shifts sweetly. I also replaced the parallel road handlebars with some 12° flared ones, which have made a big difference, particularly to accessing the brake levers from the drops (plus I added the funky bar tape). I also had to run more external cabling to the derailleur to avoid some awkward bends and turns when using the frame bosses which was leading to excessive friction in the cables and poor shifting.
I've done just over 1,500 miles on it now, including some organised gravel sportives and on terrain from smooth road to deep mud (although more often than not on hardpack and gravel trails). The longest ride I have ever done on any bicycle ever was done on this bike - my one and only imperial century ride. It is still on its original 1997 BB.
This is the latest 'studio' shot I have of it - still on the old gearing, plus I have a bigger seatbag now too to hold spares etc. It gets a lot of love when out and about!