I swapped out 27" wheels for 700c wheels recently on an early '80s Raleigh Grand Prix. My son has been riding the bike for the last couple years. The original wheelset (27") was stolen so I replaced them with a nice set of 27" Shimano 600 wheels I got for cheap. I am going to sell the bike soon and I wanted to keep the Shimano 600 wheelset for a future build to match a 600 groupset that I have from that era. I got rid of some 700c wheels so I could keep some 27" wheels. All I had to do was a little brake pad adjustment.