GT Outpost - information needed

Hi,
This may sound like a strange request, but here goes.
I am a 55 year old man who is trying to get back into biking for health reasons. I am not well versed in bike terminology. I bought a used GT Outpost. I know it was sold new in September 2000 because I got the original receipt with the bike. Here is my question:
What was good about the Outpost, and what could stand to be upgraded to make a nice recreational and short commuting bike?
I hope to be able to ride the bike to work a few days each week (7.5 miles each way). I already know that the saddle is way too uncomfortable for my taste, and I will upgrade to a good quality gel saddle very soon.
I'm not sure the flat handle bar is all that great either, and was wondering if a bar with a 1" - 2" bend would allow me to sit a little straighter.
But are the stock GT brakes, bearings, etc. worth keeping for my style of amateur riding, or would I benefit enough to warrant spending the money to upgrade these or any other components?
Any information from current or past owners of this bike would sure be appreciated. And if you didn't own one, but have some knowledge of these bikes, I would enjoy reading your perspective as well.
Thank you for responding.
Glen Olsen