Preventive medicine pretty much nails it, and I don't know how well it works at all. The chain was shot, the bike has obviously been sitting outside somewhere, but it's not rusty at all (it's real dry out here, so not surprising). Tires were dry rotted, chain was frozen...I figured I'd give it an overhaul before I set my buddy riding around on it. When I got to the freewheel (freehub in this case) I started looking into it and realized that when the time came he did have to replace this stuff, it was gonna cost him. I've been talking up how cheap old road/touring bikes are to maintain, I'd hate to set him up with something that's gonna be a pain in the ass to replace on down the line.