Great post - nice to see all those photos - can you give me some info about the 'Rotafixer' pictures and method? I'm puzzled as to what's going on with the doubled-up chain...!
It's easy to tell a twenty from more generic frames by the frame geometry and horizontal hinge. When Raleigh phased out the Twenty for cheaper import frames called 'biancas' they looked a lot like this one with that swooping curve to the basically one-piece seattube/downtube. It's looking nice - I'm guessing it's pretty light! Lighter than a twenty I'm sure with the more minimal amount of metalwork. Is the hinge strong enough? Looks like you need to treat the rust on that seatpost too!
My twenty is running 14->54 which I'm upgrading to 14->56 at the weekend to make it a little more speedy at the top end though I'm sure it won't add too much. It's still low enough to start at the lights without having to stomp too hard on the pedals though going up to 56 will - I fear - take it out of my knees on the last steep climb on my commute home.
I would go down to 12 and stay at 54 but for the fact the chain fouls the seatstays with a sprocket of such a small diameter and that it is severely glued on with the uk equivalent of JB Weld!
Nice one. Thanks for posting the pictures...