Originally Posted by
Retro Grouch
I have to say that I agree.
Logically speaking complete SS bikes can be bought so cheaply that it's pretty hard to spend less money by converting an old bike. On the other hand, converting an old bike is a lot more artistically satisfying. My general advice is: if all that you want is a bike to ride, buy something from BD; if at least part of your motivation is doing it yourself, then you have to build a conversion.
That said, if it was my bike, I'd be looking for a better candidate to convert. That front freewheel and one piece crank BB shell would be deal killers for me.
This is exactly what I had in mind to write as well. Converting is fun, but don't start out with the handicaps inherent to that frame. I'd add that, if you do go new and cheap, go entry level with BD and not sub-sub-basement level with Walmart.