Singlespeed & Fixed Gear - Suitable frame for fixie conversion?

I'd been looking for a suitable frame for converting into a fixie. I'd been looking for a frame that took 700c wheels and that was lugged. It didn't have to be in mint condition because I felt I'd quite like to repaint it anyway.

I found this on ebay:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3608109408&category=22681&rd=1

It's the right frame size, I've currently got a 63cm trek 370 from 1994 (the first year they tig welded) and I like that a lot but it has vertical dropouts. The BB and HS need replacing, the BB is a 68mm English type. The rear dropout has a 126mm spacing.

Would it be ok to file off all the extra stuff off the frame such as gear bosses and cable routing etc? I'd really quite like to have a smooth frame.

What do people think about using this frame as a basis for a fixedgear conversion? Do I need longer dropouts for the rear wheel? These ones look pretty minimal to me and I'd prefer to not have to use a singleator. I read on sheldon brown's website about some fixed hubs that have some adjustment in them too. Does anyone have any experience with these?

Would a wheel with 120mm spacing be ok? I'm guessing with 6mm you can squeeze the frame tight. If so what do people think about this rear wheel:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3607572855&category=36144&rd=1

Thanks for help and advice,

Simon

I don't think that any frame with vertical dropouts is going to make a very good fixed gear. It will work as a single speed with a singelator to take up the chain stretch, but not as a fixed gear because you won't be able to back pedal.

Keep looking, an older model Trek(or older most anything) should have horizontal dropouts on it.
Unless you know someone who can replace those dropouts with some track dropouts.

if you travel down to philly and visit via bike shop they will weld on track rear ends for 50 bucks, if you really want to use that frame, i could give you the best description i can on how to use a frame with forward facing drops for a fixie.

Thanks guys I'll keep looking out for frames. Maybe I'll find something more suitable back in england.