Schwinn Point Beach

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I bought a crusty Schwinn Point beach cruiser the other day, looks to be an Aluminum version of the cantilever frame? I would like to build a lighter weight cruiser out of it and was wondering if they are decent frames to build ? Looks to be built in the 2000's, and has a junky non functional 7 speed derailleur and rim brakes. I would like to use the wheels and Nexus 3 speed hub off a parted out Electra girls bike, and get rid of the modern looking brakes, and just use the coaster.

What other Schwinns of that era use the aluminum frame? did the "Jaguar" ? I know they were probably all Walmart bikes with junk components, but If they are decent frames I would like to keep my eye out for more...
 

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