My current "projects" thus far include my first complete full fender install. Bought these:

Amazon.com : SKS P45 Black Chromoplastic Longboard, Bicycle Fenderset (Tires Sized 700 x 28-37) : Bike Fenders : Sports & Outdoors

They're not actually solid black, but more of a smoked transparent(ish) black where you can see the foil type material between the layers. It will go on my all Black Nishiki Riviera Mixte:



I will make my Miyata Mixte a triple once I get the correct length spindle. I bought a new in box Park TS 2.2 Truing stand, a Park dishing tool and a Park tensionometer and I have spoke wrenches. I do not, however, know how to build a wheel and I can very marginally "true" a wheel. I know enough to get myself into trouble and not be able to figure out how to get back to where I started. So I will read a book and use some practice wheels to take apart and reassemble. I used to be afraid of derailleurs, and now I'm afraid of wheels.

I really want to find a lugged steel mountain bike with a top tube no longer than about 20" to convert into a drop bar setup. I've been looking. Found a pristine lugged Trek 950 for $50 but the top tube was like 22.5" so I passed.