Thanks for the help! I checked, and the bike does indeed have a drilled chainstay bridge.

Only one more thing keeping me from pulling the trigger... I taught the person who rides to U-lock it in this style, snagging the frame & back tire rim:



(The only difference is that the bike has V-brakes instead of cantilevers, but it's the same idea.)

What concerns me is that, if that tire now has a fender running around, how is the U-lock gonna be wide enough to fit both the seatstay and the tire? I don't see how it could. I'm wary of the fenders forcing a less effective locking setup, such as only U-locking the frame, or the "Sheldon Brown" through the back wheel in the rear triangle. Anyone have insights or comments on locking with fenders?