Since this thread's back, I'll provide an update on what's been going on with my bike.

It's still alive 2 months later, and not doing to shabby for a target bike. I swapped the crankset for some S300's, and that made the bike feel a lot better overall. Stem was swapped too, and this, despite what it looks like, is actually a lot more comfortable. Rear wheel was replaced as well, switching the stock wheel for an Alexrims S480, which is a double wall rim and is just as heavy as the stock single wall.



I've been riding brakeless for 4 months and I'm not dead yet. That being said, out of all the bikes to go brakeless on, this one's among shabby hobo bikes you find on craigslist for $25. Or at least with that rear hub and crankset.