Well here it is in all it's dubious glory
I set it up first with a short riser stem and wide bars out of the parts bin to try and get a fun BMX type feel if I dropped the seat down, but it didn't feel great, and the riding position wasn't any good for putting power down. The longer stem and bar ends seem to be much better for sprinting/climbing, and the bike feels a bit more nimble too. It's gonna be a bit more hair raising on the way down anything tricky but that's all part of the fun and I'm lucky enough to have another more capable MTB for those sorts of rides.
The 42/23 gearing felt pretty good on an (admittedly short) test loop, including some good steep off-road climbs. Didn't use the 32/34 granny, but that's kind of the point, to have it in reserve for some of the longer Dartmoor/Exmoor climbs I know I wouldn't stand a chance getting up otherwise.
I think the derailleur looks OK as a tensioner. The 34t sprocket looks a bit strange, but no getting around that if you want a granny gear! I've also left the small ring on the crankset for now in case I decide to switch back to a geared set-up at some later date.
Despite being a double speed (dingle speed? SS with granny? I don't know...) I ended up with four sprockets, the two 23t and 34t gears, an 11t for the lock ring to bite on, and a 15t next to the hub as the plastic spacers were getting crushed when I tightened the lock ring without this. Since I was worried about gouging the cassette body I put the three rivet pins back through the 15t/34t/23t sprockets to hopefully spread the pedalling force out a little (ironic that I worried so much about this and then took a chunk out of the cassette body tightening the lock ring).
For a zero cost switch over I'm quite pleased with it.