Originally Posted by n4zou
It will have a French Bottom Bracket so getting a replacement will require ordering it and waiting for it to arrive. This could ruin a tour if your BB craps out on you. This does not happen very often but if it does a typical bike shop will not have a replacement in stock. Your tour will be done.
70's era Peugeot bikes used straight gage steel tubing making them heavier than modern butted tubing. These bikes are called gas pipe bikes because the tubing used was the same tubing used for gas pipes. Dropout spacing will be 120mm so you would need to spread them so a modern rear wheel can be used. You must be very careful you do not break the brake bridge when you do this. Also remember that in the 70's the Touring bike label applied to all road bikes. Vintage touring bike geometry is completely different than the geometry used on modern touring bikes.
Personally; I would not use this bike for touring.
I'd strongly suggest getting the bike fully overhauled, including having the BB repacked. If this is done correctly, it's extremely unlikely for a BB to fail, even a nearly 40 year old French one. People have toured on bikes just like this in the past, you can, too. Make sure the mechanical condition is at least as sharp as the cosmetics.
Be sure the shop understands cotter pins (your cranks have them holding onto the bottom bracket axle)! there have been many horror stories about people removing them without the right tools or knowledge about how to jury rig it correctly, resulting in it being impossible to reassemble with the original parts.
The original derailleurs may have been Simplexes made of nylon or Delrin. If so, see about a low cost replacement for them. They weren't real durable when new, and that 40 years will affect the plastics.
One really great thing about these old French bikes is long chainstays. If you put on rear panniers your heels are not likely to be hitting these bags on every pedal stroke.
One thing is really important: If it has the original chromed steel rims, get Kool Stop Salmon brake pads to replace the ones that are on there. Steel rims are notoriously bad for braking when wet. Touring seeks out rainstorms.
Yes it's heavy, yes, it's old, but it will work and be reliable.