Ok, this is more hypothetical than actionable. I'm selling my old Paramount. But what if...

The Paramount is nominally a 120mm rear dropout spacing. IT's actually about 121 or even 122. The wheel is a Campy Nuovo Record low flange, with a 6 cog freewheel.

Would it be technically feasible (that is, in good fashion, preserving a reasonable chainline, alignment, good ride, etc) to cold set the frame to a 126mm, and to get a new wheel with a 7 cog freewheel? Could I use the same Campy derailler and crank? And chain?

How about going whole hog and setting this to 130mm spacing. Would the frame perform well?