Existing hub seems not too bad though think it is not the original that came with the bike. The rear axle is quite worn, no serious pitting on the cones but the hub has contained bearing housings so i cant see the inner cups to examine for pitting.

I think if i was going to build a new wheel i will do it on my next project! Already learning enough new skills with this bike i think!

Have got my eye on a weinman zac18 wheelset on my local auction website, current bid is around $65. Any thoughts?