Thanks for the reply Kayce. I understand the problems inherent in switching to 700c wheels in regards to brake reach. The brakes that the bike came with are almost maxed out on reach already.

Why can't I use the existing rear wheel and replace the freewheel with a singlespeed freewheel and have the wheel redished? I thought that was one of the ways to do it.

Thanks for the input! To clarify, I'm going singlespeed, not fixed.