I recently bought a Schwinn world sport and after riding it for a while I think it would benefit from a single speed conversion. The main purpose for this conversion is to reduce weight and make it a faster/simpler machine for getting around the city. I was thinking about replacing the wheels on this bike and stripping down to a single speed. The bike looks identical to the one shown below in the link.
I believe it is a 84'-85', cro-moly, 700cc wheels, and in very good shape.
Is this a good idea on a bike like this? Are older Schwinn bikes like this good to convert? If so, can anyone recommend good 700 replacement wheels? Also, how much would the parts for this conversion cost?