RogerB, if you pursue 9-sp Ultegra or Tiagra and have issue with spreading the dropouts, you can run an "8-of-9-on-7" arrangement as described by Sheldon Brown. In addition, if you're not ready to spring for a new 130mm 8/9/10 freehub yet, this would allow you to use the 7-sp freehub from your '89 bike.