I really like the look of the steel wheels. They have a low profile rim, but plenty of space for the brake pads. They have zero rust, just some slight dulling of the chrome in some areas, but essentially look brand new. Not bad for mid 70's. They are Araya and look like they were quality hubs for back then.
Right now I'm running Kenda white walls on the bike and it makes the while lettering on the bike really pop.
I removed the old blue cloth tape off of the bars and replaced with black cloth. I finished off the cloth with twine and it looks pretty nice. I also took off the original brakes withe the extension levers and went with some NOS Dia Compe brake levers with black hoods.
I shellacked the twine but have not done the cloth so far.
Pros/cons to leaving the cloth tape alone? Should I just go ahead and apply the shellac to the cloth tape. I guess the main difference will be the sheen. Right now the tape looks pretty flat.
Thanks!