I didn't want this thread to die an untimely death, so onward it goes
One of my main commuters is a '96ish Trek 990 with 700c wheels. I've never noticed any BB height issues. Is that a big deal? To me it hasn't been. I wanted a no-frills, lightweight, Made-in-USA frameset. I know that it is no custom, but compared to custom tigged frames, the value here made sense. These bikes slip under the radar because they are fairly pedestrian, they made a lot of them, and doesn't have the cult status of more memorable brands like Moots or Fat Chance. I found this one disguised on craigslist as a mundane 'mountain bike', hidden under mediocre parts.
Biggest issue so far is the rear brake. I like the idea of fabricating a bracket to move v-brakes up a bit, but I'm not sure that the Trek's rear brake posts can unscrew, so I'll have to overcome that challenge eventually. Right now I drilled out the rear seatstay bridge to accept a road caliper and that is working, but barely - w/ cross levers and old pads, its a bad combo.
My goal was to build up an all-metal (no carbon) commuter that was light yet durable. The Trek 990 frame is great - True Temper OX Comp III tubing. It is very light. The fork is a steel 700c cross fork from the bay, but has a little more flex than I like. My ideal build would be get a custom made fork (waltworks, etc) and pick the front end up just a little bit. Who knows what that would do to the BB height, but I've never noticed that anyway. The headtube on these older mtbs is so short! Set it up as a 1x8 and it is a great, smooth rider. Plenty of tweaks to make and things to fix...but that is why I love riding it! Something new to change, adjust, etc. Never boring. It is still in what I'd call a 'shakedown' phase - not pretty, plenty of mismatched stuff, dirty, scratched, etc. Once the build gets sorted out more, that will all change. More changes to come will be different levers, a lighter headset, beartrap style pedals (from my bmx days!), ti BB, 50mm riser bars, foam grips, and then a strip and refinish.
If you can find an old 90s mtb with a decent tubeset and a 1 1/8 compatible headtube, these make for fun bike projects. Really enjoying it.
I think these 700c conversions shouldn't be written off. I commuted on my 3x9 sti-equipped Scott speedster today (24mi), and think I enjoyed riding my little homebrew even more. Then again, that could just be the romance speaking, but hey, isn't that what this is all about, anyway? Carry on