I don't want a conversion. Unless I found a nice frame for cheap, but I'm not really looking.
I've listed what I want from the bike in order of importance (most important at the top):
less than $600 (the cheaper the better)
wide tire clearance
decent or good components
no braze-ons (water bottle mounts are okay)
120 mm rear spacing
classic styling (no sloping top tube or funky graphics)
I don't think there is a complete bike, or even a comparable frameset, that fills all my criteria available right now. If it is, then I can't think of it. The closest ones I've found are the Raleigh One Way, Redling 9-2-5, IRO Rob Roy, Bianchi San Jose, and the IRO Jamie Roy. Right now the One Way is my favorite. I don't like the cable guides or rear canti bosses. The 9-2-5 is tempting because it is definitely the cheapest of all the choices, and it fits a lot of my criteria. The San Jose is without a flip-flop (unless they changed it for 07), so that's not an option. I IRO bikes are alright. I think they both have ugly paint jobs.
A couple questions now. Are there any I missed? The first two criteria are essential, so don't suggest something that doesn't have both of them. I must have fenders on this bike. I'll probably get some full coverage steel ones and put on a mud flap, so it doesn't matter if it comes with them or not. Does anyone know what hubs come on the One Way?