My initial reaction is dependent on which frame you decide to start with.

Some will have possible rear axle length differences with which to deal, too. Some oldies will have horizontal drop outs and 120mm spacing back there, so no prob.

If you're starting $100 in the hole and don't yet have anything in your hand, maybe put that hundo toward a more modern chromo frame already set up. Depends what you want....a newer frame can be just as satisfying to build as a moldy oldy, with fewer hassles.