Well I did a light tune-up (it needed almost nothing) and safety check of the Schwinn the other day, and my wife took it to the store and back. She loves it! There are a couple minor fitting adjustments she wants to make, and she doesn't like the seat, but other than that I just need to go through it and clean/grease everything as required. This may be the first non-BSO she's ever had a chance to ride, I'm really happy to get it going for her.
More good news: I got myself a bike too, last night. It's a 2000 GT Saddleback, for $50. Seems to be all stock. It's not in nearly as good of condition as the Schwinn, but should make a fun rebuild project for me. I'm posting that in a new thread.
Matt