Link to a thread which has pictures of the bike/rear wheel(sorry for the low quality):
http://www.bikeforums.net/showthread...lp-with-brakes
The wheels are painted chrome(or the chrome plating, not sure which), and that layer is coming off the front wheel, causing corrosion. All the decent wheels in the shop have machined sides, not sloped, which I would consider MUCH better for braking.
BadMother:
Front and rear hubs are in great condition. Both wheels are 32 spoke. Rear is 5 speed freewheel with Shim Tourney derailleur.
I probably will take this to the mechanics forum, but would rather link them to a stale thread for info, rather than reposting.
That said, thanks!