Flog it for a few quid to someone but make sure they know about faulty straps... Or just keep it for emergencies?
Starting to go through this claim stuff now with the guy who hit me's insurance - RSA (Royal Sun Alliance?).
Once they'd checked my turn of events against their guy's they've now turned really friendly and just spoken to a great guy who once he'd heard from me that I wasn't looking for personal injury has asked me to list everything damaged and approximate values (with any copies of receipts & photos of damage) to him and he'll sort it out.
Feeling very hopeful at the moment, LBS have quoted me at least re-truing of 2 wheels, gear cable, new bar tape, full service and bike inspection at £108 (+£50 for new helmet). Didn't think that was bad, the guys having a closer look at the frame for me to make sure he's 100% sure about it. I'm trying to suggest to him to find something/marks/scuffs/ding, but how do you word something like that!?

Not milking it completely - but to me a £100+ repair on a 1 year old £300 bike should write it off???
I want the insurance to value it at face value (£360 for current model with Halfords), with additional for my upgraded parts and damage to clothing/helmet at around £500 - I could then put some money to it and put it towards a new bike as well as repairing the damage to my current one. That's not dishonest is it?