I got this bike awhile back and built it up to make it a commuter for me, but its too damn small. I'm 5'7" and I think this bike is good for someone ~5'3" or less.
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It came with a coaster brake and cheap cruiser rims. I parted out another 3 speed and it has a proper Sturmey-Archer 3 speed hub (1969) on it now. I tore the bike completely down, shined up the chrome, repacked all the bearings, cleaned and oiled the three speed. It didn't come with a rear brake (originally, or when I got it), but I added one. It has older, but still good, fiber brake pads (don't dry out like rubber). It rides great, shifts nicely, is beautiful (paint is awesome for a ~50 year old bike), and would make an excellent commuter.
Happy to deliver to MSU campus.