Man its a killer looking survivor, even being a 24". I dont usually side with modifying factory trimmings, but Im kinda with @GTBruiser on this one, it would make a killer 24" stingray and its nothing you cant undo if need be.
I love the 24" bikes. Even with the seat and stem down like that one doesn't bother me. At 5'8" I can ride with no problems. Perhaps not on a long ride but all I do is ride around the subdivision. I'm not really into ergonomics. I can remember when I was about 9 years old and just not quite big enough for my brothers 26" bike I would drool over the 24" bikes at Western Auto.