Bicycle Mechanics - Wheel Questions

Got a few road bike wheel questions for those in the know. The bike is a 2000 (I think) Cannondale R300 triple ring with a 7 speed cassette.

Front wheel: has constant unusual vibration that appears to be coming from the axle. I don't know what it is but I imagine it can't be good or normal since my other bikes don't do this. Is the wheel shot? Am I in danger of riding with this problem? Do I need a new wheel or is this something that can be repaired?

Rear wheel: quite simply, it has a crummy old Sunrims CR18 on there that's getting pitted and out of true. I'm not beyond replacing the wheel.

I don't need high performance stuff: consider me poor. Is it generally cheaper/wiser to have a new rim spoked up to my old hub, or is it more cost effective to simply buy a new wheel and throw my old cassette on?

Can't answer your questions until you take the axles out and inspect the bearings.
Theer is nothing wrong with old wheels that have been properly maintained.

Enjoy

Thanks. I bought the bike used a few years back. Considering the seller, I would assume the wheels were poorly maintained.

take it to the lbs and ask to have the Hubs overhauled. If they are pitted or shot they should call you and tell you that they are damaged and ask you if you want new wheels or hubs or whatever. If you want some cheap cost effective wheels, try some ALex DA22's. I have some and they are indestructable. They can be had for <$150

I believe all road 'dales in the 2000 were 8/ 9 spd. You can verify just by looking at the logo, before 1999 it was a different font than the current one.

I'm trying to say that yer wheelset may be much older than you think and being the R300 model the bottom of the barrel you may benefit of new wheels. Thay don't have to be new & you may want to take advantage of people unloading their (new)stock sets on ebay when they upgrade.