I assured my friend that I'd scavenge whatever useful parts I could and recycle the rest.
After removing all the parts -- including the bottom bracket and headset, which are both still fully functional -- I decided to make the frame into something I could use in my shop. Years ago, in my early months at Citybikes, I'd made a work stool from a damaged bike frame. It was a great height for working alongside a bicycle in a tight space and I liked having it. When it was stolen, I never got around to replacing it.
But now that I work at a home workshop, I thought it would be a good time to make another.
So I grabbed my hacksaw and removed the front triangle of the frame, sawing off the downtube and top tube about an inch and a half from the seat tube (which I eft attached to form the rear triangle).
I set the front end aside. Then I spread the dropouts as far apart as I could without breaking the old steel tubing, to form a tripod.
I used a damaged mountain bike handlebar, flattening one end to fit over the cable stop bracket at the seatpost clamp and sawing off the other end to the correct length. I used hose clamps to attach the handlebar to the frame after I'd affixed the flattened end to the seat clamp bracket. The bottom end got capped with a stout handlebar plug.
I may look around for an even wider saddle, but this was in the junk pile and for now it'll work.
I really like the addition of the fourth "leg" as it stabilizes the stool so I can put more of my weight on it. It's a good height for truing wheels on the bike, detailing brakes and such. And it's small enough that I can hang it on a hook and lock it inside the shop when I don't need it.
As it happened, the front end of the frame is being claimed by an artist friend, who will turn it into door handles for a large cabinet in her studio.
So in the end, almost none of it will end up in the landfill. I couldn't be happier.