Joined: Jan 2009
Posts: 43,977
Likes: 6,167
From: New York, NY, and High Falls, NY, USA
Bikes: 1962 Rudge Sports, 1971 Raleigh Super Course, 1971 Raleigh Pro Track, 1974 Raleigh International, 1975 Viscount Fixie, 1982 McLean, 1996 Lemond (Ti), 2002 Burley Zydeco tandem
mytenspeeds is very good. The author can be found right here in the C&V forum. Here, he's known as randyjawa.
Be careful, because it's easy for a project like this to cost more than the value of the bike. You're best off if you have most of what you need and you get better-than-retail prices on the stuff you buy. You might even buy another bike just to use it as a parts donor.
I strongly prefer aluminum rims. Most people call them alloy, and this is just a quirk of bike culture. Virtually every metal product is of some alloy (mixture of metals) but in the bike world, alloy means aluminum alloy. Anyway, aluminum rims are lighter where weight counts the most, and they also brake better in wet weather. They tend to be more durable than steel rims, too.
Shop around for wheels. Look at donor bikes (as I said) for wheels. And since you have that nice organization near you, get their help in evaluating the condition of the components of your bike.
Why convert to single speed? It's a hot fad, and I don't get the point. The advantages are simplicity and weight, but how important are those things, really? A conversion will cost money and it may be unnecessary. You also risk making the bike less useful than before.