This is one type of project that I've always wanted to do but always was hesitant to start. This guy posted his absolutely beautiful rebuild of a 1994 Giant Perigee.
This Giant wasn't particularly pretty to start with, the componentry and accessories were garbage and the paint scheme was not very pretty.
Taking inspiration from the Giant Propel SL 1 (a $8,500 bike) he slapped on some nice components and custom painted this bike. I think it is one of the nicest rebuilds I have ever seen!