I just started college and though it'd be nice to have a bike to get around and was looking at my mom's old road bike, but it definitely needs some work.
It's a Fuji VALite 1769 frame with Suntour aRX derailleurs. I'm not real sure about the rest of it, it's probably about 20-30 years old. It has relatively new cheap Bell tubes and tires and the chain looks a little worn, but mostly rust free. Everything seemed smooth while riding it aside from the problems listed below.
The front wheel either needs fixed or replaced. One of the spokes is broken and it has a pretty evident wobble when you ride it. Also, the front derailleur/gear changer (not sure about terminology here) needs adjusted and fixed. The bolt that holds the cable to the arm piece is broken and, thus, doesn't work. The grip tape on the left handle is also coming off, but that's not a critical repair. The brakes might need adjusted a bit, but it was hard to tell with the front one since the wheel was wobbling so much.
Is it worth it to get it repaired and tuned up? Also, how much, about, would it cost to have everything fixed up so it's road worthy again? There's a couple small bike shops in town and a couple at college as well. This is the first time I've tried it out and won't have time this weekend to bring it to a shop so any input would be great.
EDIT: The wheel's probably my biggest concern then. I'm sure I can figure out how to get the brakes adjusted. The rear ones seemed ok and the front may be too, but I couldn't tell with the tire wobbling so much. The cable kept slipping out of the bolt on the derailleur and I tried to tighten it, but the bolt broke. After I get another bolt, is there something that should be done to keep it from slipping?