Yep I didn't think it was drivetrain wear because although the bike is old, the slipping is very smooth, and if the chain were slipping i would expect a "chunk-clank!" type of noise/feeling, this slipping is smooth and quiet. I don't think i'll shell out for the repairs as the frame has pretty deep rust in spots, many of the cables are old and rusting, the brakes are just pathetic, which is probably a combination of the cables and old pads, the headset and front wheel seem just great though