You have a 1985 Sport model William. 
 http://mombat.org/Specialized_Specs.htm 
http://mombat.org/MOMBAT/BikeHistoryPages/Specialized.html

 It's a little better riding than the pre-85 models that used a dreadful 67 
degree head angle.  Your is 70.   
I owned a '83 Sport that I bought in back then and kept up until last 
year.  The ride was poor due to the head angle.  But , yours should be much 
improved, so it could be alright for a touring bike.  A Bombadil ... it 
ain't .... lol.   I have one .... and the comparisons are not even close.  
Everything is better . Not to say your Sport won't be fine for you , it's 
all subjective. 

If you want to sell it ... leave it as is !  A used '85 isn't going to get 
you a ton of cash... so spending money on it makes no sense if selling it.  
I noticed however, that these has those Specialized Cranks .... these were 
prone to cracking inside the spider like Campy cranks.  

If you want to keep it to play with, do it because you LOVE the bike ... 
not because you want to sell it as you're gonna lose $$ on it then. 

Either way .. have fun :)

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