Lazy or wise?
You now know that to do that project (correctly) you may have to spend a fortune...
To get the frame up to spec will make your eyes water. (removeteh plating, repairs, polish, replate, ouch that is going to cost....) Having a new one made would cost less.
There is a complete bike for £4k in the Uk that hasnt sold in ages, and I think by the time to work on that project, you will fly past £4k.
Of course you dont have to spend anything like that to have a lot if fun. Blast and paint the frame, get a cheap donor bike and away you go. You could have yourself a bargain four banger racer on your hands for not a lot of money.
Depends how serious you want to be.....