i'd say with a gear ratio like that i'd have the name of a good knee surgeon handy. other than that i likey. i'm all for leaving the steer tube uncut. you never know when you want to raise them bars. having the extra steer tube length is a whole lot more attractive than using one of those (pardon my crass language) "*****" stems (you know the ones i mean, up jutting about 40 degrees). and i'd have no problems with those wheels, they are what 32 spokes? assuming they're well built by hand you shouldn't have truing issues. but for dog's sake get yourself something to hold your feet to the pedals, man! you've got to slow down somehow (flinstone method not withstanding).