I say go for it. Everyone should build at least one set. If I understand correctly you want to lace a MA3 to the stock varsity hub? I would strongly urge against this. Get a better hub, you can put it on your next bike. I think nashbar has a fixed/fixed hub for $30 right now.
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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