I have an old Giant Perigee hanging in my garage. I was thinking it was too small for me (I've never actually ridden it) so I tried measuring it. From the center of the bottom bracket to the top of the seat tube is 56cm.

Does that mean it's a "56." My daily road bike is a 58. So a little tweaking, and it could actually fit me well.

So now I'm thinking of what to do with this bike (other than donate it) and I'm wondering did I measure it right?

I've wanted a steel frame bike for some time. If the bike fits me, then the only question would be what to do with it. The paint is ugly. Like a bad imitation of Bianchi green. I have a set of wheels that will fit, and for the cost of a spacer, I could have a 7 speed cassette on it this afternoon. It's got exage shifters on the bar tops, and a six speed drivetrain. Biopace cranks, but I kind of like those. Brakes have a really nice feel.

I could also make it a single speed, but I'm not sure the horizontal dropouts are long enough.

Will the six speed derailleur work with 7 speeds if I use friction shifters?