If I really thought retro bikes were dangerous, I would replace my entire stable, since I suppose all 5 qualify as "retro." However, because I do acknowledge the danger of metal fatigue, I replace cranks, stems, handlebars, and other safety-related components periodically. Also, I would trust an older high-quality bike over a newer *-Mart special any day.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069