I found a 22" Peugeot $75. Agreed to meet seller. Took a closer look at the Peugeot on Austin Craig's List. On second look I am thinking no. Simplex derailleur is a no deal. Considering offering $35. 1970's Peugeot barn find. 15 days ago.

I think switching the crankset, bottom brackets from the Schwinn would be iffy. Besides, I hate the idea of parting out the perfectly nice Schwinn.

The Peugeot is really grungy. What would be a decent economical replacement for the Simplex?

I will probably ride the Schwinn until it is sold. I would consider buying a 22" Schwinn frame and swap out the components if the 24" does not sell. Where to look for a frame?