It's tight. 57mm, centre of brake hole to centre of rim is exactly right for my bike, with 27" wheels, so I'm guessing you really need 59 plus for 700's. Most old sidepulls will reach that easily, however, it's the modern dual pivots that might be a problem. Trouble is, I don't know for sure that they might not have changed the clearances. They will have gone to 700c at some time in the 80's. Here's what my 70's Galaxy is looking like at the moment, unfinished (apologies for geared content). It's going to be the lightest weight interpretation of the classic English 3 speed I can make (those cottered steel cranks are going)