A Varsity is a good, no-frills bike, not a piece of junk!
I have seen a three speed frame break from casual use. I picked up a three speed at a garage sale. I think it was a "JCPenney" branded model from the 80s with Shimano hub.
After a few months of riding it, I separated the seat tube from the bottom bracket! It was just "butt-brazed"; like a fillet braze without the fillet. The thing had been more or less new. I was able to ride it gently home but this game of pimping out a low end ride you guys speak of could be very dangerous.
Last edited by garage sale GT; 06-24-09 at 10:07 AM.