Originally Posted by Tom Pedale
I believe the FUJI Ace was one of the top of the line models.
Possible glitches with component upgrade:
First, I'd check to see if tire size is 700C, if it's 27", generally speaking forget the whole thing. This would indicate a frame in all likelihood not worthy of upgrade as in heavy and rides like a rock. If tubing decals are present on the seat tube, they should tell you something. FUJI used a lot of Ishiwata tubing that ranged from Hi-Tensile(cheap) to non-butted, butted and double-butted (good, better and best, respectively). Some of the best frames may have used Tange, although my mind becomes exceedingly cloudy when I try to remember some of these details. I do clearly recall however during this time a memorable backpacking trip to the bottom of the Grand Canyon with a ladyfriend of mine, but that's another story.
One of the items from a modern 105 group that will most definitely not work on this frame regardless of the tire size is the brakeset. Mid-70's bikes had a longer reach (distance from the brake center bolt to the middle of the rim). If you try to hang the modern calipers on this bike, the pads will be contacting the tires. You can order a standard reach brakeset (Shimano), but it will cost you and it's something you'll never find on sale. Also, some Japanese h/bars from this era had smaller diameter, if so clamps on brake levers will be too large, resulting in loose levers.
Other problem areas involve the bottom bracket. Modern day bottom bracket axles are way shorter than the ones found on 70's bikes. If you hang the new crankset on the new axle, you may find the crankarms on one or both sides whacking the chainstays. If you elect to keep the original bottom bracket axle and hang the new crankset on it, then you better find out if the taper of the old axle is the same as the new axle. If it isn't and you install the new crankset, it will loosen up and ruin the taper of the new crank, which will make it toast.
Other possible areas of concern, some previously mentioned in other posts, include cable routing, not only for the front derailleur, but also, if using STI, the stops for these cables normally found on the down tube.
In short, before buying any parts, good price or not, examine and measure the frame carefully to ensure component compatibility before plunking down your hard earned money.
If it's mid-70's, wouldn't the tire size almost certainly be 27"? I have bikes from the mid '70s to the late 80's with 27" tires and they are certainly not throw-aways. Both rims and tires are available for 27" bikes.
Long reach brakes are easy to find used or parted out from an old bike. Tektro makes very nice affordable long reach brakes too.
Ishiwata is fine tubing. I have a Trek TX-500 built with 022. Somewhat comparable to Reynolds 531 of the time.
New, wide spindle bottom brackets are available from a number of manufacturers including the affordable Tanges. Measure the width of the original and replace it with a new one of comparable width. Do make sure the taper matches the crank, though. I have a Tange BB with an original SR crank on my Trek.
Rivendell sells a downtube cable stop that can be used on frames without the braze-ons.
The bottom line is that usable modern parts are still available for most '70s era bikes. (With French bikes, however, all bets are off.) If the frame is nice, it can be worth the upgrade.