Interesting how these things go. I'll never second-guess someone for wanting to spruce up an old bike, put his own stamp on it. I put some money and untold amounts of time into a Panasonic DX-3000 a few years back, first to get it close to original condition, then a single speed, then a fixed gear. Learned a lot along the way and have fond memories. Now, as my kids are older and I have less time for bike transformations, I grabbed a Univega mountain bike that was lying curbside "free bikes", cleaned it up a bit and my son has a great, free bike. I just bought the Univega Supra Sport below and planned to ride it stock on family cruises but the rear tube blew and when I removed the rear tire it pretty much disintegrated. My quick fix? Grab the old Panasonic rear wheel, convert to QR in the rear and off I go! 700c OK on this 27" bike, adjust the brake pads a bit. Rear hub probably needs a bit of spacing work, but it rides fine and that's all I need for now. Good luck with your project!