schang

I think cuda2k hit most of the high points nicely... a couple of additions...

Aside from a couple standard socket wrenches, you'll need a crank puller. Fortunately, this is a pretty affordable tool, and as cuda2k says, do some searches (or look on http://www.parktool.com) and you will be able to figure out which one you need. Bottom bracket removal may be more of a challenge, but again if you search on these forums there are tons of hints about removing BBs. You can certainly have your LBS do it as well.


Assuming the bottom bracket fits (it might and might not), and you don't have any clearance issues between the crankset and chainstays, then I agree with cuda2k that brakes will be the biggest thing. In addition to being short-reach, the brakes on the 650c bike are almost certainly modern allen-mounted brakes, while the 27" frame almost certainly uses older-fashioned nutted mounts. (See http://sheldonbrown.com/gloss_ra-e.html#recessed for details.) Harris Cyclery sells a set of long reach brakes that are available with the old-fashioned mounting http://harriscyclery.net/site/itemdetails.cfm?ID=1006 -- these might be really helpful, for the rear brake definitely, and also in front until you replace the fork.

However, as an additional complication, when switching from 27" to 700c, you can enter a nether-world where even long-reach brakes (up to 57mm) don't quite reach. I have a friend who did a 27" -> 700c conversion and needed to find brakes that reached ~63mm. eBay came to the rescue there. However a drop-bolt solution would also work, or these nifty extra-reach calipers from Kogswell: http://kogswell.com/brakeDESC.html.