I was at the dump yesterday, throwing away some junk from the garage. In the scrap metal pile was a complete red Miyata Seven-Ten. Looks to be about a 1984. I took it home.
Best of all, it's my size. The paint is good, with no visible rust on the frame.
The drivetrain was frozen, and the chain was rusted. Other than that it looked OK, aside from the rather crusty tires (I later discovered that one of them actually did hold air).
When I got the bike home, I attempted to remove the stem and raise the seat. No luck. Frozen solid. Same for the stem. There also appears to be a slight bend in one of the seat stays. Finally, one of the pedals seems fused to the crank. Sad, because it's a 170mm crank (too small for me) and an MKS pedal.
I know there's a destructive method to remove stuck stems and seatposts. Any other methods?
The wheels are actually true. The rear is problematic in that many of the spokes are rusted. But the front is good to go - I've already repacked the bearings and it spins real nice.
I can't sink too much money into this project. Too much meaning slightly more than zero. My "accountant" insists that four bikes are enough so a fifth will have to be financed very much off the books.