This is my favorite thread in quite a while. Ambition. Ingenuity. Drama! What more could you ask for? Nice job on the DIY build with a collection of tools quite similar to mine (although I did spring for some cone wrenches a while back), and big thumbs up on the paint concept.
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A race bike in any era is a highly personal choice that at its "best" balances the requirements of fit, weight, handling, durability and cost tempered by the willingness to toss it and oneself down the pavement at considerable speed. ~Bandera