One more thing to look for that hasn't been mentioned is a high (relatively) bottom bracket shell. This will help keep you from scraping your pedals when going around turns because you have more clearance. Of course, you usually don't have much choice in this matter when scrounging for a used frame so you can always use short crank arms. I am going with 165s on my Miele build up.

On a side note, I finished tearing the bike apart and cleaning it and I noticed what a beautiful white paint job I have. It has a beautiful pearlescent shine to it when the light hits it just right. Guess I never noticed before under all the dirt and grime . she is getting new cranks, chainring, BB and headset. The conversion will cost me a total of near $200 with the new wheel and cog. Not too bad.

Victor