Gordonson Road Bike - Any Good?

Hi all, I have just joined this excellent forum as getting back into cycling after some 20-odd years...

A few years back I was living in Perth WA and bought a used Gordonson road bike from the West back pages - I think it was around $150. Now I am in Scotland and thinking to spend some time and money upgrading it, I would like to find out a bit more about its pedigree first. Obviously here in Europe no-one knows anything about Gordonson bikes.

When I was in Perth I went into the Gordonson shop in the city but it seemed to be just a dealer of low-end stuff and couldnt tell me anything about my bike. I am guessing that in earlier times they made (or assembled) quite decent bikes but lost the plot somewhere along the line.

Anyway, my bike has Ishiwata EXO tubing, a Shimano 600 groupset with downtube shifters, Araya rims, and its all in reasonable order except the spokes which are pretty rusty and the tyres are perished. From a bit of internet research this seems to date it to around the late 80s/early 90s. I also have lying around a Brooks B17 saddle from the early 70s which should go nicely on it (my basic school bike got nicked and the police found it 6 months later repainted by brush with Dulux vinyl matt - and a B17 in place of the plastic original! I was going to chuck it but my Dad, a one-time keen cyclist, recognised its worth). If its a decent bike I'll repaint the frame, change the saddle and get new wheels.

Any views from you knowledgeable WA folks would be much appreciated. Thanks!