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Old 05-29-07, 02:54 AM
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Location: northern Florida, USA
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I'd fix up the old bike. A new bike at $375 isn't going to have the best materials or components. The older one might have a better frame (can't be much worse) and you don't see old Motobecanes everywhere. One downside is that the old bike probably uses French threading, so if you ever have to replace the headset or BB you might have problems finding parts.

Why new brakes? Going from 27" to 700c wheels? Consider getting a 27" rear wheel instead. You'll have to look harder for one, but they're out there and it'll be cheaper than a 700c wheel + brakes.
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