Sheldon's system sounds about right to me, but be sure to try a few GENTLE test shifts into large-large on a shop stand (or using a friend as a shop stand) before riding. Short-chaining does allow you to stretch any given rear derailleur's takeup capacity, but I think it's simply too risky for cycling in traffic.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069