Just replace the chain and cassette (and crank if you want.) You can use the original derailers with bar-end shifters. They'll work just fine.
Converting to drop bars I assume? Figure in the brake levers and new stem into your cost as well. It's doubtful the original stem will give you the fit you want with drops.
Originally Posted by
fietsbob
Phil Wood sealed bearing freewheel Hubs are robust, you will never bend an axle, because of their design,
then you can use 7 speed freewheels which now all have the same sort of early shift tooth profiles
as cassette clusters, but since Shimano dropped the whole hub design that supported the 7 speed cassette
long ago,
namely using the 13t cog threading on to hold it all together, instead of a lock-ring,
they are getting harder to find for repairs.
7-speed cassettes are still really easy to find. And you'll never bend an axle with a Shimano 7S cassette freehub either.
Why suggest the OP spend a couple hundred bucks building up a wheel around a Phil freewheel hub on a
Trek 720? I just don't get it.