This looks like one of those high-rise stems that have an insane amount of quill- like 8 inches or something so I think s/he's ok. Obviously s/he should double check the height to be sure. . .

Nice paint job!

I've converted a few 3 speeds to single w/coaster brake. Any bike shop should be able to order you a Wheel Master (or otherwise) machine-built wheel w/an EA3 rim, or check amazon/niagara/etc. Action Bicycle even has an alloy F+R EA3 set that I am considering.