I have just finished rebuilding the hubs this evening and now the bike is ready for my first ride tomorrow. I have to say that I am really happy with this bike. Thanks to T-Mar's link I was able to date the bike to 1987 (using the date code on the suntour derailer).

Condition wise this bike was not ridden very much. When I bought it the tires were new, they still had the small ribbon of rubber on the center of the tread from the factory molds. But they were so old that the rubber had dry rotted!! I also can't see any appreciable wear on the sprockets and the chain checks out fine.

After a thourough degreasing lubing and new tires (w/ rebuilt hubs) it is like a brand new bike.

I will follow up with a couple of pics tomorrow.

Brad