Long Distance Competition/Ultracycling, Randonneuring and Endurance Cycling - 1989 Fisher ProCaliber -- How would this bike work for distance cycling?

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I am primarily a road biker, however I am becoming interested in distance cycling. I've seen a wide variety of bikes being used and want to get your opinion about whether this 1989 Fisher Procaliber would do.
The frame is too large for me as an MTB, but is just about exactly my road biking size with a 31.5" standover height. It has Deore XT components. And, it is a very comfortable ride.
I added the 1.5" Avocet Cross tires, but could easily go to a 1" tire.
Would I be at a disadvantage with the 26" wheels?
Also, should I install a drop bar? I have an old Japanese drop with the proper diameter.
Thanks
RFC
http://i23.photobucket.com/albums/b384/RCopple/FisherProcaliber015a.jpg
i would definitely add the drop bars (and probably remove the TT bars, personally), but besides that it looks like a fine LD bike.
does it have holes for a 2nd bottle cage? that will almost be a necessity, and you can clamp another cage on if need be.
I am primarily a road biker, however I am becoming interested in distance cycling. I've seen a wide variety of bikes being used and want to get your opinion about whether this 1989 Fisher Procaliber would do.
The frame is too large for me as an MTB, but is just about exactly my road biking size with a 31.5" standover height. It has Deore XT components. And, it is a very comfortable ride.
I added the 1.5" Avocet Cross tires, but could easily go to a 1" tire.
Would I be at a disadvantage with the 26" wheels?
Also, should I install a drop bar? I have an old Japanese drop with the proper diameter.
Thanks
RFC
http://i23.photobucket.com/albums/b384/RCopple/FisherProcaliber015a.jpg
Yes, in terms of rolling resistance a road bike with 700cx20something tires would be better, many people prefer wider tires on long distance bikes so the bike can handle anything you come across but many others (like myself) like more efficient road bikes and stay away from dirt roads and potholes. If you own a road bike it would probably make more sense (at least in my opinion) to stick with it.
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