Airwick,
The bike James T had is more than likely a three speed, possibly a 4 speed. Brand is indeterminable from the pictures. Note the LARGE cog on the rear wheel...you will need one of these. I don't know how much attention you pay to gear ratios/inches. But the Raleighs came geared ridiculously high from the factory. Not a big deal to correct. The lights are going to have to come from Ebay or someone that has some laying around. I have just started looking for some for another project that I have coming up. If I hit the mother lode I will share.
Aaron