I'm taking off on the TransAm trail starting in May 2010. I didn't want to spend a bunch on a new bike if I could get around it. I took a Raleigh R700 road frame I had hanging from the rafters. I had previously put over 3,000 miles on it while I was stationed in South Korea way back in '98-99. At first I was skeptical whether it would serve as a tourer.
First thing I did was relax my sitting position with an adjustable stem (raising the handlebars). Next was a brooks saddle, and a kickstand (yes! A kickstand!). Then, I began changing the drive train. On the front went a triple derailleur matched with a 48-39-24 chain ring setup. I installed a chain-keeper affair to keep losing the chain on the low side. This would surely occur with the rather large span between the 39 and the 24. I hadn't intended to install a 24, but that's what was sent to me when I ordered a 26. I like the 24!
The rear derailleur is an XTR mated to an 11-34 cassette. I can climb halfway up a tree, get off for a break and get back on and continue up the tree! It is a mountain goat!
I found a seat post clamp with eyelets for a rack that works really well. I installed a light rear pannier affair on the rack. It works well but I'm thinking about going with better volume panniers for my trip.
For wheels I have installed a pair of 36 spoke affairs with XT hubs. The widest tires I can fit on the rear is a 28mm. So, I went with a pair of those. Barring any accidents, I really do not expect to have any wheel problems in the three months of my ride. But just in case I am bringing a couple of spare spokes and a cassette removal tool.
The Raleigh, who I have dubbed "Sir Walter" (original I know) sports a handlebar bag too. He is also equipped with an XM/MP3 radio and external speakers! Speaking of the handlebars, I wrapped the bar tape over some gel strips...I'm quite happy with the thicker feel and it absorbs road vibration good too.
I'll be pulling a BOB Trailer, so front Panniers are not needed.
I have ridden the bike for over a 1,000 miles with about 300 of those pulling the BOB trailer. I made minor adjustments here and there. One of the biggest was cutting about 2" off of the kickstand. It pushed the front of the bike way up into the air when stock. There is a picture posted below with it in original form and you can see it is way up there!! After 1,000 miles Sir Walter seems to be my answer for the trip. About the only real concern I have so far and it is a very small one is; the rear tire is very close to the frame seat tube. I can get rocks hung up in there once in awhile. A few times I have had to stop and dislodge a rock from there. It is a rare occurrence though.