Originally Posted by
Road Fan
I'd expect to find the original setting was 126 mm, not 120 mm.
I would too! Even though we continued to call them 10 speeds.... by 1982 I would expect six cogs... not 5. I really like the early and mid-80s bikes... although I lean more to the Japanize made steel bikes... my modern daily rider is a Trek.
Originally Posted by
atufft
I think I need to swap out the rear wheel and put in one with original Shimano 5sp cluster, then I need to rewrap the handlebars. I'll keep it as a guest bike.
Do whatever feels right to you. But I'd wash, scrub, clean, polish and shine the bike to as close to new as possible. New grease, oil, chain and of course tape, tubes and tires... and likely cables, cable housings, and brake pads. I'd make sure the wheels are a matched set, and that the bike shifts flawlessly. Then I'd enjoy it when the weather is nice... and hang it on a wall (to be admired) when it isn't being ridden.