Oh my god. You are so damn lucky. I guess you can't say no to that Babah frame, that thing was so damn cheap. What kind of build are you thinking for the P-Slope? Are you going to use your current parts or all new ones?
Most of the red parts are fairly subtle, the main ones that you would see would be bars, cranks/chainring bolts, pedals and seat. Majority of them are accents.