An update on the project for any future reference.
I'm very happy with way the project turn out.

I went with a Stronglight 99 crankset. Obsolete but fairly easy to find on ebay.
With a 32 tooth granny gear from Hilary Stone in the UK.

The people on the board here were correct,
when they said I needed a longer spindle.
The bike went from a 119mm to a 124mm spindle.
I didn't need to change my Swiss BB.

So I went from a 52/40 crank with a 14-28 freewheel,
to a 52/40/32 crank with the same 14-28 freewheel.
using the original drivetrain parts.

Went to the local bike junk yards looking for a crank and rings.
Didn't find a crank, but found a few obsolete 122mm rings,
for my old Sronglight 104 and a bunch of equally obsolete
86mm rings for the Sronglight 99.

Five dollars a piece, this is where the cost of the project went up.



My old Stonglight 104, didn't need the extra rings I found at the junk yard,
but I couldn't pass up on the BIS rings.
Probably make the crank more desirable when I go to sell it.



My new set up.
Please don't look to closely at my first attempt at drillium.
I was bored over the Thanksgiving holiday weekend.
I know now, how to do it better the next time.



Lines up pretty straight.



All in all, if someone were to be more patient, and look harder for parts,
plus do the work themselves, this project could be done cheaper.

But for me, not including the extra rings, plus I had the my LBS
do the work for me, it was done for less than 150 bucks.

I also see now that jonwvara's Triplizer system, would have been
roughly the same price, and by far, quicker and easier.