I was feeling the need to get back on track with this thread too, (but I'll PM you about the pocket sax.)
The only thing I think might improve this bike would be different wheels, something to emulate more olden-timey, spoked wheels. Maybe some six-spoked wheels, with some sort of fascade (bits of copper plate, etc..) covering the spokes up to make them look more 'punk' & industrial, rather than simply BMXish.. The wheels are fine the way they are; I'm just thiunking of ways to make it lok more like the sort of wheels you'd see in the late 1800's. Maybe even cover the spokes with wood?