From what you said in your original post I was a little worried that you have to start from a clunker, but with the 7005 alloy frame, steel fork, nice relaxed geometry I can see, IMHO what you have is NOT bad at all! In fact I suspect your frame is no heavier than the average steel or alloy frame on a sportive circuit, and many people prize a steel fork over alloy for better vibration absorption especially over long journeys and rough terrains.
Assuming the drivetrain of your bike is well maintained and in good condition, what will likely make the most difference in terms of speed and feel would be improvements in your tyres and wheels. In fact due to the magnified importance of rolling inertia and rolling resistance, for most bikes getting lighter, higher pressure tyres and lighter tubes is the most cost effective way to transform them, then followed by better wheels.
Can you provide the details stamped on the sidewall of the tyres you have? It is not in the spec from your link.
Do you happen to have a good scale for measuring weight? or a reasonably comprehensive set of tools for bikes? I got a digital scale for fishing that will handle 30kgs off
ebay for a few £s. A reasonable starter toolset specific for bikes costs about £30.
I must however let you know that upgrading your wheels is not entirely straightforward due to some knock-on effects on gearing. According to the spec you have a 6 speed freewheel on the back, but practically all modern off-the-shelf light wheels are cassette based for 8/9/10 speed. Since the shifter has to be consistent with the number of speed at the back, if you get those you are likely to want to change the shifters too.
Since you are interested in getting brifters on dropbars, it is natural then to explore whether that would be an easy replacement. Unfortunately firstly brifters are inappropriate for V brakes, which you have, due to different cable pull requirement, and secondly they are not compatible with mtb front mechs, which you might have.
I think
this is as good an article (please note it is in 5 parts) as any describing the potential trials and tribulations of converting flat bar to drops. You did say you want a project!
It is however possible to bypass all that by just getting a light, quality set of secondhand wheels that will take a 6 speed block. They are often available on ebay for effectively a song (compared to what they used to cost), although of course buying secondhand sight unseen has its own challenges as well as benefits.
Of course if you are interested in lightening up the bike many other possibilities exist, some saddles are very heavy compared to the 200g for a lightish one, and there is a chance that your bike has a heavy steel seatpost, while a lightish one is again only 200g.
This database is not overly up-to-date, but imho remains one no self-respecting weightweenie could do without...
Anyhow as I said, the first step should be an assessment of what you have. Then you can assess whether the potential outcome at the end would justify the steps and costs for you.
