Well I'll go first...
I am not sure how to best answer you since from your message and your past work/successes, it pretty much sounds to me like you know what you are getting into, that you have the smarts, knowledge and the drive to see a project through.
Since you have paid for the parts and you have them at home, you have already taken on the project!
Other practical considerations, like that you have the space to store a bunch of greasy dirty old bike parts for a while, room to work on them, the necessary tools and an understanding partner, you don't say, but I'll assume that all those are positive.
I'd say go for it. Most everything has to be taken completely apart, inspected, refinished, replaced etc, etc, so you will only know what you have got when you get a good look at it all, inside and out.
That's a nice dog on the porch step. Can he clean parts?
Good luck and keep us posted!