Join Date: Jun 2004
Location: Northern Nevada
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That IS a nice bike--I almost bought one several years ago, but decided to keep my old roadie and buy a camera instead.
What NEEDS to be done will vary, but here's what I'd do:
Check (and probably replace) the tires. They get old and cracked sitting around even if you don't ride them. The tubes may be OK; you'll know soon enough if they aren't.
Look at the brake pads. Like the tires, they're made of rubbery stuff and may crack and dry out with age. You can try scuffing the glaze off the braking faces with sandpaper, but they might need to be replaced, too.
Lube every place where anything pivots or slides, on the brakes, levers, shifters, derailleurs, whatever. Just a LITTLE oil or whatever you use is plenty--sometimes a single drop. You don't have to soak it. Don't miss the spot where the cables slide under the bottom bracket.
Lube (clean first if necessary) the chain.
That's about the minimum you can get away with, I imagine, and it's only a few minutes' work.
At some point, you'll want to pull the cables out of their housings and lube them, and since they only cost about 10 bucks for a whole bike's worth, you might as well replace them. Probably OK to re-use if money's tight, though.
Some winter night when nothing's happening, pick up the bike, spin a tire as fast as you can and put your hand lightly on the skewer where it goes through the dropout. It should feel silky smooth. If you feel grumbles or vibes, replace the bearings (not a very complicated job; post again if you need advice). Check the smoothness of the bottom bracket and headset at the same time, and if they're not smooth, re-do those, too.