Hello everyone,
Wow, thanks for all the comments and suggestions. This is great. I'll try to post some photos later of the bike so you can get more of an idea of what I'm talking about. I'm still not exactly sure what I'm looking to turn this bike into but it's probably not going to be a commuter but more like a fun weekend bike. I know this was never a top-of-the-line bike but I liked the look of the frame and it seems straight so I'm willing to put a little time and money into it to make it nice. I want to do this not only to be able to ride it once the warm weather comes, but also just to try new things and get better working on bikes.
The bottom bracket is still a little confusing to me. It seems like the consensus is that it will have standard English threads. So does that mean if I buy a new BB it will be interchangeable? Also, how do you know if the BB even needs changing? Will it grind or "catch" when you turn the crank? I think I want to change it because I've never done it before and I would like to figure it out.
An early idea for a plan is as follows (and please let me know if this is an ill-advised plan or of any snags that I may encounter along the way). I think I want to convert it to a singlespeed bike and not a fixed gear, because I would like to be able to coast and I don't like the idea of the pedals always turning while the bike is in motion. Also, I've always had geared bikes so this would be new for me. One reason for doing this is because the rear derailler is original and the front derailler is after-market and neither look good anymore. Therefore, I could just take these off and not have to worry about replacing them. Also, it has small plastic shift levers in the front that I think are original but don't really look that nice, so I could just take these off as well. If I go through with a singlespeed conversion, would I need a new wheel with a freewheel or a cassette? Once the drivetrain is done I might put on new brakes with new cables and that would pretty much be it.
The other option is a full restoration with new rims, tires, front/back deraillers, brakes, crank, and shift levers. That might seem too expensive and too time-consuming for this type of bike, and it might be, but I'm curious as to what you all might think.
Lastly, I will definitely check out Bikes Not Bombs, and what's a mixte?
Thanks and I look forward to the replies.