Grand Bois

I've always thought that Mixtes look goofy with drop bars.

desconhecido 

I'm not a slave to period-correct. The first problem, I guess, is that on an old bike like a 70s Raleigh, I tend to only think about freewheel hubs and 126mm OLD which eliminates consideration of almost all cassette hubs. Then there is the unattractiveness (as a matter of taste) of many modern hubs -- the black and Shimano grey and the very square construction. For example, I have a bike that's only a couple years old which I put 11 speed Record hubs on. They're black and pretty butt ugly. I'm also not convinced that cartridge bearings are something that I like, though some sets have infiltrated while my guard was down.

Does Shimano still do cup and cone?

Just curious, if you were going to build new wheels for a mid-70s Raleigh, what hubs would you use?

You mentioned that you enjoy building the occasional wheel. Me too. I recently took possession of 4 rims: 2 new Ambrosio and 2 Nisi Sludi, which are very cute and 390 grams (weighed them). There are 4 CR18s and a couple Velocity Dyad rims (40h) headed this way, too. Going to have to spend the money I was saving for those Record high flange on some spokes.

non-fixie 

You'll get along great with my wife.

noglider 

@desconhecido, I might consider a freehub. They're just better in pretty much every way. But if you want to keep your freewheel for some reason, you could find a mid-range hub, either old or new. @ascherer used Shimano hubs from the late 70s or early 80s on his new (old) Raleigh International. They were about the same price as the Normandys but much better.

Shimano hubs are all cup and cone, I believe. Surprising, isn't it? But it's a rational choice.

If you really want a wheel to have a chance of lasting (allowing that rims sometimes get smashed and spokes sometimes become fatigued), it's best to start with the best hubs you can afford. This is one place where I might want to stretch my budget, more than for things like derailleurs and brakes. Derailleurs are only used for a few seconds each ride. Hubs are used all the time.

And I agree that mixtes look goofy with drop bars. They seemed like a good idea at the time, but ...

ascherer 

Lucky find, really. They appear to be 1st generation 600s. I was looking for a set of HF hubs for a PX-10 and came across them in an old LBS. Never built them for the PX-10 (long story) but they are super smooth and look right at home on a vintage Carlton-built Raleigh.

Grand Bois

I sold a frame and fork exactly like yours for $35. It ended up on Ebay as a fixie with deep V rims with a BIN price of $350. I didn't bother to see if it sold. I kind of regret selling it, but I was trying to raise money for another project.