Thanks very much for that wall of text Marc, was very informative.
But after much deliberation a look at my bank balance and realisation the bike probably isnt worth the effort..
i just put a new chain on it
It wasnt as bad as first thought, the back axle was loose and the chain was well rusted ,the combination of this completely stuffed the gear changing of course...but with a new chain alot of wd40 and some fiddling I have nearly all the gears working sweet and they seem to be getting better as I ride it...I tighten the brakes and its as good as new...
the front shocks I think are the old school threaded type so not worth spending cash on, it already has 3 piece cranks too that I cant get off to change cogs even If I wanted too..I belted them no budge
anyway It can do me for now and if I ride enough that it wears out I will just buy or build a new bike...
If it doesnt wear out I obviously dont like riding enough...
I found it at the tip so all up its cost me 60$
weird looking thing hey!!