Guys, thanks for all of the great info you've provided. The bike is a Nishiki TT bike from the mid 80's running 700c on the rear and 24" up front. I saw a link for a single speed shop in NYC that seems to have all of the bits and pieces I'd need to make the conversion.

As far as the amount of time I'd ride it, I don't think I'd ride it more than an hour or two at the most. Probably my first purchase will be a flip flop rear wheel. I'm going to strip and repaint the frame before building it up.

I'll keep you all posted on my progress.

Zack