i tried it on an 85' trek elance road bike frame. i ran a coaster brake rear hub.

brakes were no problem with the coaster brake hub. lower BB didn't seem to be much of an issue for the short time i had it set up like that.

the biggest problem i encountered was a horrendous front fork wobble when riding hands free, even for an instant, at anything greater than about eight MPH. that was the only real problem, but it was game over for me.

it may not happen to you...