I did it for fun and its well, fun. I did it first to a Trek 830 Mountain Track but the frame was too tall for me so I tore it down and rebuilt it on a Fuji Appalachian. I originally used 700c wheelset but the spacing problems in the rear were slightly annoying. The 700c rear wheel had 126mm spacing but a mountain bike is spaced for 135mm. I didn't feel like cold setting the MTB frame so I rebuilt another wheel. I had a 27 1/4 set that I wasn't using. The hub was old and a freewheel which I don't like. So I went an replaced the freewheel hub with a mountain bike freehub. It was spaced for 135mm. I also rebuilt the front wheel with a nicer newer front hub as well.

So I now have a nice set of 27 1/4 wheels with a 135mm spaced freehub in the rear and put them under the Fuji frame. I used a stem shifter just because I had it and it was cheap. I mounted it on a threaded to threadless adapter. It is now tight and works fine.

I am going to post some pics after they are uploaded to photobucket.