I would like to keep this conversion as simple as possible, so changing out 
the BB is not a priority.  A five speed freewheel plus a triple chainring 
crank is plenty enough for me.  The existing brakes are CP, though I was 
thinking of replacing them with the longer reach Silver side pulls.  I 
don't think the current CP brakes have sufficient reach.  The brake levers 
are original, and leave much to be desired.  And while the current headset 
is not showing any signs of a problem, I do have an Ultegra headset not 
doing anything in my parts bin.  I may as well throw it on.

On Wednesday, March 1, 2017 at 1:09:24 PM UTC-5, George Schick wrote:
>
> If the hub/FW is a five speed that would mean 120mm spacing.  There should 
> be no need to cold set anything if you can find a 120mm hub.  Check eBay 
> for NOS.  If you want to bump it up to a 6 or 7 speed then you'll need to 
> widen the rear spacing a bit (to 126mm) by cold spacing (see Sheldon for 
> details on that) for smooth installation and removal of the wheel. 
>  'Course, that'll also mean a new FW *and* you may have to change the BB 
> cartridge again to get it properly aligned with the wider rear.  I don't 
> think I'd bother doing that if the existing FW is still in good shape and 
> just keep it a five-speed.  BTW, what kind of shape is the headset in?  You 
> didn't mention that being replaced in your OP.  If the brakes are CP and 
> you want to change to SP, you'll be removing the brake cable hanger so it 
> might be a good time to consider a new headset - especially if the existing 
> is "indexed."
>
> On Wednesday, March 1, 2017 at 11:54:58 AM UTC-6, Wayne Naha wrote:
>>
>> I had wanted all sparkly new hubs, along with the new rims.  But the rear 
>> spacing issue had slipped my mind.  The freewheel is in decent shape, and 
>> it is a five speed, so that means 120mm spacing?  What about 'cold setting' 
>> the rear triangle?  Any downside to that?
>
>

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