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Join Date: Oct 2004
Location: Absecon, NJ
Posts: 2,947
Bikes: Puch Luzern, Puch Mistral SLE, Bianchi Pista, Motobecane Grand Touring, Austro-Daimler Ultima, Legnano, Raleigh MountainTour, Cannondale SM600
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I have a late 70's GT also, and the first thing I did was swap out the wheels to 700c. I felt no remorse at all. It gives me the option of running cross tires for occasional off roading and studded tires for winter, plus the selection of 700c tires is much better.
I also swapped the crankset because the originals were 170's and I prefer 172.5, & I ditched the stock sidepulls for Mafac centerpulls.
One thing to consider is if you swap out the bottom bracket your options are fairly short and will be kind of pricey. I haven't changed mine, but if I'm not mistaken, the Moto's of that vintage sported Swiss threaded bottom brackets. You could get a T.A. for about $100.00 US or a Phil Wood for about $150.00 US.
Just keep all the original parts if in the future you decide to return to all original specs.