Sometimes it pays to be the guy that messes with bikes - my neighbor wheeled this over to me about a week ago and said, "You like old bikes, right? I found this at a garage sale - you can have it."
After thanking him profusely, I wheeled it in the garage, changed the tires, pads and cables, put batteries in the turn signals(!), oiled the chain and derailuers, and rode it around the block.
It weighs a ton (a cruiser, so who cares), but the paint is almost perfect, and it is loaded with "Schwinn Approved" goodies, including the "Sting Ray" turn signals, actuated by the switch under the seat. The generator lights work great, and there is a Shwinn approved canvas bag on the back of the seat.
The odometer/ speedometer reads 181 miles, and I think it's pretty close to right. It no longer works, though, so if you have instructions or insights to help me make it work again, that would be fantastic.
This picture is from a grocery run this weekend.
I seem to have a small flat spot on the front wheel - is that fixable? I have been doing a lot of polishing, and it is starting to look very nice again. There are little rust breakouts everywhere, but it's nothing that elbow grease and polish can't fix.