Just bought a Centurion Ironman.

[JDMKidBill]

Hello! I am new to road biking. I was hoping the extensive knowledge of Bike Forums could shed some light and guide me.

I believe it is a 1987 or 1989 Centurion IronMan Dave Scott expert. I bought it for $150. So far, I've spent 44 dollars on two Bontrager tires (the old tires were dried up and unusable, hauled the bike away on a bike rack) and 4 dollars on a roll of rim tape.

Here are some specs of some parts that are installed:

Mavic MA40 rims
Diabolo front hub
unknown rear hub
Specialized skewers
Shimano 105 SLR brake levers, brake calipers, unknown brake pads
Shimano 105 index shifters on the down tube
Shimano 105 Front derailleur
Shimano 105 Rear derailleur
Shimano 105 pedals
Shimano 600 rear cassette (MF-6208, 6 speed)
Schwinn Hollow-Point saddle
uknown saddle post

A few questions:

Did I get a good deal? What kind of cleats do I need to ride with the current pedals installed? What is upgradable? Do they still make brake hoods for my current brake levers? What needs to be checked (so I don't possibly die due to mechanical failure)?

I was planning on going to my LBS (Elixxir, mainly sells Giant bikes), and have them check my cables and whatnot.

[HigherGround]

I imagine you will get some feedback here, but an even better option is to check out the Classic and Vintage forum, or the one for appraisals. I'm amazed at how well some of the guys in their know their stuff.

Like you said, I would agree with removing the brake and shift cables from the housing to inspect for any wear and tear. Depending on when the bike was last overhauled, and how well it was maintained, it may just be worth replacing them outright with new ones. I would also suggest loosening the stem, and sliding the handlebar over so you can inspect the clamp area for any cracks or bends. I would also inspect the chain for wear, as it may need to be replaced (and possibly the freewheel and/or chainrings too, depending upon their accompanying wear). I would also check the spokes, the sidewalls of the rims, and the eyelets where the spokes insert in to the rim for any cracks or excessive wear and tear. It's also good (but a bit late) to look at the frame, specifically where the underside of the down and top tubes where they join the head tube. Any ripples or cracks in the metal suggest the bike may have taken a head on hit. Viewing the forks from the side for an unusual bend toward the top of the blades may also suggest that kind of hit.

Shimano still makes cleats for their pedals, but it is hard to say for sure if they will work without knowing the exact model of 105 pedals. Are they pedals for toe clips and straps, or the "Look style" clipless pedals?

I hope the bike doesn't need too much work, and that you get many miles of enjoyable riding!

[Velo Dog]

Pretty nice bike in its day. I wanted one really bad, but just couldn't afford it at the time.
I don't remember specifics after all these years, but I think (not sure) that the frame predates shimano's 105 components, which would mean it's been worked on. In any case, 105 works fine and is durable, so it should be good. HigherGround has given you a comprehensive checklist, and this would be a good time to learn to do most of the work yourself. It's not hard, and you'll become familiar with everything as you go. Ideally you'd do it all before you ride, but most people wouldn't, so just check the stuff that can hurt you and do the rest as you get time.
Price seems fine to me if the frame is solid. Some people might say it's a little high, but the Ironman is a special case. If it fit me, I would have paid that in a second.

[Doohickie]

This will probably get more appreciation in the Classic & Vintage forum. Looks like you got a good deal. We won't know for sure until you post pics (hint, hint).

[JDMKidBill]

Opps, I forgot the pictures! I just took some. The rims look like they were barely used. I'll check on the stem and handlebars tomorrow. And i'll re-post my original post in the vintage section.

[c_bake]

Very nice...and for $150 you got a heck of a deal. Those IronMans have a cult following it seems. Post over in the C&V forum, those guys can tell you all you need to know about your new bike.

[JDMKidBill]

Very nice...and for $150 you got a heck of a deal. Those IronMans have a cult following it seems. Post over in the C&V forum, those guys can tell you all you need to know about your new bike.

Seems like they're all off to bed. I'll check back tomorrow. But I agree, although I am new to bikes, I felt that I've got a great deal! There are no noticable cracks, and I went on a ~15mi ride up and down some hills around the area, and lived to tell the tale. I have a long way to go...