I'd riase it by making the droputs lower. Basically I got this frame for free and am wanting to learn to braze and build bikes. Or at least modify them.

I will be buying 700c wheels, since its what I can get that'll be durable enough for me (I'm about 315lbs). I am also going to be brazing on canti mounts, more for the experience than anything.

Pedal strike I am not too worried about though. I don't turn very fast