Join Date: Nov 2006
Bikes: 05 Giant TCR 0; 83 Colnago Saronni; 81 San Rensho Katana Super Export track bike, #A116-56; 97 GT Zaskar
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You may have problems with brake reach on some brands of brakes, but it's generally do-able, and recommended unless you need to keep the bike completely stock. There are always some alternative brakes out there that will fit.
On such an old bike, the rims might need replacing anyway. Getting new rims is like getting a whole new wheelset!