Originally Posted by
RiddleOfSteel
Man, that looks great! The geometry for 1989 and 1990 420s is the same (per catalogs). I personally don't mind running tires closer to frame tubes, which is I think why you dimpled your stays (unless you went to running 47s) and I look at a 2-3mm gap and go, "It's fine."
If I was to do this 420 fully "my way", I'd change the crankset to a 105/Ultegra/Dura-Ace unit almost entirely because of those cranks carrying a 146mm q-factor. With that crankset would very likely come the rest of the matching groupset. Modern STI shifters with their complement of derailleurs. An Innicycle headset for sure. Interestingly, given how the bike is with 32s, going carbon on the seatpost and handlebars, like I have with my 620 (much to its benefit), is something I don't feel is necessary (for extra comfort). I'd also employ upgraded cables (and likely "Pro" level Jagwire housing) due to the internal Shimano shift cable routing, but that is not an absolute must. They sure are nice with Dura-Ace 9000 shifters though.
All of that would of course make this not a $200, or even $600 bike (it's already one now); it'd be more. But that is the way of things like this. We do the research so others don't have to,
right? Right...

Yeah, I suspect I'm a little more cautious about frame clearances than you are. I'm only running 42mm tires, but I like having enough room to accommodate some mud or a slightly out-of-true wheel on occasion.
It's best not to think about the slippery slope of cost in these sorts of projects. I bought my 420 for $100, but I've spent several times that amount on this build, and that's even with a lot of it being inexpensive but functional vintage parts I had lying around. Still, I can think of worse things to throw your money at.