fyi most frames from the period you mention are 27". if you switch to 700c wheels you'll have to use longer-throw calipers. nothing wrong with that, but you should be aware. also if you like the tight angles you're SOOL, cause the smaller wheels will leave greater clearance oin the rear triangle. it's a look, but it's not to everyone's taste.

as for frames you might as well go for an older steel road frame with luggy-lugs, cause you just might as well. basically the field is wide open here.

but to answer your post, you're not going to be able to use a frame designed for 27" wheels with short-throw modern calipers

now over to portlandonian