46/16 is the usual gearing.
avoid Peugeots, common Schwinns (Le Tour, Varsity, World Sport), and French bikes (Compatibility). Frames are heavy.
One piece cranks and vertical drops should obviously be avoided.
Most modern components would be compatible. Youre probably looking at a quill stem and the usual 68mm BB size. 1" steerer...blah blah
Tubing to look for:
Columbus SL, SLX
Reynolds 531, 631
Tange #1
Tenax
Bikes to look for:
Centurion Dave Scott Ironman
Bridgestone RB1
Fuji (Some with the better tubing)
Schwinn - Prelude, Tempo, Premise, Super Sport
I actually have a Centurion Technium 450 I'm building up right now... Mainly because its extremely light.