Repair or replace - circa '01 Apollo LSX 1.3

[nezumi]

I have an Apollo LSX 1.3 which I have owned from new, and ridden intermittently, since around 2001 (possibly older).

It has:
Acera Front Derailleur
Alvio Rear Derailleur
Shimano V-Brake shifters (no range indicators)
Alexrims x2100 wheels
Mozo front suspension fork (not siezed, but not smooth either)
7005 Aluminium frame
Kore stem and riser handlebars

At this stage I can say that at the very least the chain needs replacing, and possibly the front chainring, rear cassette and maybe the crankarms.

I am reluctant to take it to a bike shop for fear of how much needs doing. I can say it shifts hard sometimes and the chain rubs quite a bit. At least the brakes are fine.

Is it viable to rejuvenate a ridable but not great bike of this vintage, or am I better of getting a new bike on sale as the model runouts occur?

[Duck!]

The rough shifting and chain rub will most probably be fixed by a new set of cables.

[rebilda]

Really depends on what you want to do with your bike. Is it to be a bike path commuter or fitness bike?

I certainly wouldn't be throwing buckets of money at this bike, regardless. Sure, replace the cables & the chain. Pull the front forks part & clean out all the rust, clean & lube everything else and see how it goes.

If you want to hit the trails and get some adrenaline going, maybe replacement would be more suitable. A lot has changed in bike design since 2001.

[Mulger bill]

^
What he said. Possibly a nice path bike but I wouldn't be keen on trail work.

Shoot some pics of what's worrying you and put 'em up and a rough diagnosis should be possible.

[nezumi]

The hard part is that the main thing worrying me is the shifting/rubbing noise while in motion. As I don't have a stand or indoor trainer it's hard to capture this sound or video.

Essentially it has never had a new chain or cassette, the front chainring seems a little out of alignment. The front derailleur seems to always have trouble finding gear, but I have no idea what to adjust first:
Replace chain
Replace cassette
Replace cables (adjust?)
Replace chainring.

[Mulger bill]

Start with the cheapest item-cables-and work your way up the list from there.

Where are you based?, someone with the skills and tools might be close enough to have a look.

[petie]

Definitely new cables and some adjustment will help, probably even solve the problems!

By the sounds of it you are keen to do a little of your own work. Why don't you have a go getting this up and running, then when you hit a brick wall buy yourself a new bike you will be able to change cables with simple tools and you shouldn't have to spend more than $50 on consumables to get a neglected bike rolling again. Small investment to learn a few useful skills!