Originally Posted by sknhgy

Ta Da!! Here she be:

I'll call it "The Turd" because one of my students saw me working on it and said, "why are you fixing that, it's a turd".
I scraped off the old paint and gave it a spray-bomb paint job. BB, headset, and rear bearings were cleaned and repacked. The lbs gave me a good deal on a new front wheel and a couple of white side-wall tires that he had hanging in the rafters for years. The front white-wall got scuffed because I took it for a test ride before properly adjusting the front brake. I gave it new front brake pads. I also soaked and re-oiled the chain.
I've got about $55 in it. If nothing else I'm going to save it and ride it when I'm an old, old man. But really, if someone really wants it I'll probably give it away.
One thing I did learn. Metallurgy wasn't as good when this bike was made as it is now. The fasteners on this bike can be very easily stretched and broken. Luckily I learned that on a replaceable bolt and not on something like the tapered pins that hold the cranks to the BB spindle.
It rides OK, for what it is.
I sit here basking in a sense of accomplishment.