My '79 is a singlespeed, I am using a 42/18 ratio, rolling hills here and this works fine. I can maintain 15mph fairly well and no trouble with the local hills. I use it as my go to the store, coffeshop bike and enjoy its simplicity. Once in a while I take it on my daily ride and go 15 to 20 miles easily. I have no desire to go fixed though.
Try it, you might like it!