Originally Posted by mirkee
I'm new to cycling but, as with many of my other hobbies in the past, I want to tinker!
Props to you... be aware that once you get started, it's a slippery slope
What I would like like to do is buy an older bike and clean it up, repair and upgrade. I have read a lot about steel frames and that seems like the way to go on an older bike. What specific brand do you all suggest? what type of steel and how do I find out if that's the steel the bike is made of? Lastly, I would like something old enough that components can be found reasonably priced on close-out or on ebay and I would like suggestions on specific bikes suitable for that or ones to stay away from. Don't forget, this will be my first tinkering project and I don't want to have real expensive mistakes.
I recommend a sport-touring type road bike from the 70s or 80s. They're durable and versatile and fun. I'd aim for something from the late 80s... for maximum tinkerability, get one with downtube shiftes, lots of braze-ons, cranks with REPLACEABLE CHAINRINGS (meaning not the low-end crap), and a decent lugged steel frame (not plain hi-ten steel but 4130/chromoly or better).
I've bought such bikes for $10-75 in the DC area. Craigslist is your friend! Get a full set of tools too, I recommend the Performance kit ($100) or the Nashbar one (about $80), though there was one for about $50 that looked really complete and apparently contained the same tools as the Performance kit a few months ago.
Specific brands I've had fun with: Schwinn, Fuji, Lotus, Shogun, Nishiki, Trek, Raleigh, Panasonic, Miyata... and pretty much every other Japanese brand.
PS- I would suggest avoiding French bikes (Motobecane, Peugeot, Gitane, etc.) simply because they often use many non-standard threaded parts (BB, headset, pedals) which makes interchangeability a nightmare. Not very tinkerer-friendly. Sure, some of them may be nice and all, but if your goal is to learn a lot and tinker a lot, they're just a PITA. Older Japanese and British-made bikes are a lot more compatible with modern parts.