Wow. Better than I ever have done... I got a 1970 brown Schwinn Continental, with all original parts, for 40 bucks. Fixed it up best I could. Had to replace cable housing, but I went with the nice Teflon lined ones... new cables, and new bearings. Other than that, everything else is the original factory stuff, even the sweet 70's brown tape... I love steel rims...
It is the heaviest bike I have ever ridden, but it's worth it.
Smoother than heck... I will put a pic up later...