The "bumbike" wheel as many put it is fine as long as you use brakes. I too would stay with 27" wheels. Just remove the freewheel and screw on a track cog. Yank off the other chain rings and shorten your chain. That's it.
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I'm not one for fawning over bicycles, but I do believe that our bikes communicate with us, and what this bike is saying is, "You're an idiot." BikeSnobNYC