Is this expensive - ?

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I totally agree. Whereas as top-quality 531 frame with a light, modern, high-quality groupset would be an absolute joy to ride. I wasn't suggesting that a new bike was the answer.
My own solution would be to go to a big bike jumble and buy top-quality (i.e. Campagnolo) barely worn kit from the bike's original era an fit it myself, but if the rider concerned hasn't the skills, meagre though mine are, then that is not an option. I did exactly this when assembling my "bike I always wanted as a teenager but couldn't afford" Viking Severn Valley.
 
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