Ah, but they way outperform a rod-activated brake (and, I suppose, a spoon on the back tire). I rode a bike just like this, only way bigger, with racks and panniers for 500 miles through Missouri and Illinois once. And the downhills were exciting. I bagged the steel rims as soon as I could afford to. Still a wise thing to do, I think.

This bike is in beautiful condition, btw. congratulations.