I'm guessing that thing is a road bike considering it has no shocks? The tires are what's confusing me lol. I'd throw some skinny slick tires on that thing, grab some click-in pedals with some shoes, or the cheaper avenue of the step-in cage, and have yourself a party.
Keep riding that thing and you will find yourself in pretty good shape for winter, my road bike has done wonders for me, that and working construction. Nothing better then loading up a good playlist on your MP3 and pedaling some miles.
PowderHound and TreeNinja