Moving along just nicely. Thanks everyone for the positive encouragement and answering my sorry questions. Uhmm. I guess as an aside...
It seems like wherever I go and whatever I do, there's a money factor that's always controlling me. That's why I got started on the old Royce in the first place--
$! I was searching on Craigslist for other feasible bikes -- like my usual thrifty self -- looking for bargains. I hesitated and missed out on this sweet Cannondale Jekyll 700sx -- probably with the shocks, disc brakes, and who knows what other super sweet parts -- all because the price tag was $300.
So I rationalize, "okay... now what? you just missed out on an opportunity that comes around every so often. you're looking for a full suspension 26" mountain bike ..." Then the thought finally comes to me. The Royce UNION! Then I go to the shed and take it out and bring it inside the house where I can take a closer inspection. From what it appears, the frame is intact; however, the fork is kind of suspect. It's a "Ballistic 16x" fork with a shock that slid right off the fork itself! The bottom bracket is a 3-piece cotterless crank which requires tightening every 25 miles. The seat's all torn, and there's a dent in the front rim. Not a pretty sight!
So I begin to churn my thoughts to buying aftermarket parts to put on. I want to swap out the old bottom bracket with a sealed cartridge bracket and add the appropriate crank arms with it. I want to swap out the headset bearing with sealed bearings. I want to buy a new shock absorbing fork. I want to get a disc brake for the rear and a dynamo hub in the front. I want to get a nice soft gel cushiony seat! I want everything new and customized to fit my needs and purposes! But wait a minute, with what kind of money??? All this just to customize a Royce Union frame with a dubious suspension system?!? Isn't that the whole reason i opted for the Royce Union? To avoid spending needlessly on another bike. So my mind trips into rationalize mode again, "Well just because you buy a fully rideable bike (like the cannondale jekyll) doesn't mean it's necessarily going to be perfect for motorization." "Well it costs as just as much if not even more to get all the parts then to just buy a full bike." etc. etc. etc.
I guess the main thing right now for me to do is stay focused on the task and not verge off onto otherwise unfruitful commentary and wishful thinking...
Would appreciate your further inputs and insights about my predicament! Thank you!