You did right - that's exactly what I'm riding! It's not too stiff in the BB area but it's a nice comfy frame for less than perfect roads. Also far less likely to be nicked (especially with guards and stickers all over it like mine!) .
All joking aside, it's a very nice 531 frame so given that it cost £4 and I suspect the rest of the bits will still come to a lot less than a langster + new wheels (you need to get the two together!) - it would've been a bit of a waste of money to buy it.
Just don't come to Birmingham and stop next to me at the lights
If it's going away for a respray, why not push the boat out, so to speak, and have the dropouts replaced with some track ends. You could even have the back end respaced to 120OLN at the same time. Voilà, a road geometry track bike, just like a Condor Pista, only nicer!
That's not a bad idea from Tim, if the frame was a better fit for me then I might bother doing that with a respray but it's fudged with a tall stem and seat-pin! I think I'll just pickup a Bob jackson frame whenever this one dies, although I expect that'll be a few years yet.