The bike shifts ok not perfect and I have been riding it for about 2 months this way. I got a new freewheel installed and I could hear some noise coming from the rear cogs like the chain was not lined up exactly right. I adjusted on the indexing barrel adjuster and got the noise a little better but the noise never goes away. I looked and the new freewheel has ramps and low teeth and such which should make it shift better so I think that the new design is causing the increased noise.
Now for the 7.5 speed. I noticed that when I shift from the large rear cog to the small rear cog I get 7 definite clicks in the down tube shifter but when I shift from the small cog to the large cog I only get 6 definite clicks. The extra click occurs as I shift from the large cog to the second largest cog. The first click does not cause the derailer to move far enough to make the shift. The second click causes the derailer to move far enough to complete the shift and each click after causes the derailer to shift to the next gear.
Does anyone have any ideas about what is going on with the shifter? Could it actually be an 8 speed shifter?