Join Date: Jan 2005
Location: Portland, Oregon and SE Asia
Bikes: Waterford ST-22, Jamis Quest Elite, Jamis Dragon Pro
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Not a loaded touring bike
It is a performance road bike, with corresponding geometry that does not lend itself to touring with panniers. By this I mean the short trail, which will likely make the bike unstable with a load, as well as short chainstays that do not offer enough clearance for panniers to clear your heels (unless you use those tiny rear pans shown in the pic). Look at a real loaded touring bike and you will see how much longer the chainstays are, the greater wheelbase, front wheel trail, etc.
I also think the wheels will not be up to snuff since they are 20 years old and probably too lightweight to begin with, and 12 speeds may not be enough range if you hit the hills. Of course you can tour on whatever you want but the old adage about the right tool for the job applies here - it makes life so much more pleasant. For $5-600 you can get a fairly recent used Trek 520 or Cannondale touring rig in good shape that will be far more suitable. Happy hunting!