Originally Posted by m_yates

Yes, you are correct. The frame had 120 mm spacing in the rear. I already cold set it to 130 mm with the Sheldon Brown method of using a length of 2x4 wood and string to check alignment. I did the cold setting and then sent the frame to be powder coated.

I've already run into a host of issues upgrading components and I haven't even ordered all the parts I need or gotten the powder coated frame back yet. Modern hubs require respacing the frame. Modern 700c wheels instead of 27" wheels require adding new long reach brakes. The frame requires hex nut brakes, not recessed nuts. Modern rear derailluers don't have an integrated hanger, and my frame doesn't have a derailleur hanger. I need one of those adapter claws. The seat post diameter is an odd size that required a shim, and my shim was destroyed removing it before powder coating. My headset is a weird size that I can hopefully reuse, or otherwise I will need a new threaded fork, which will require me to buy a new stem, which will require new handlebars. On and on it goes. Not much is standard size compared to a modern frame.

I may add a post when I am done with this project showing before and after photos of the bike. My post will be titled something like "How to spend $1500 on a bike that is worth $100".