Joined: Jun 2005
Posts: 9,625
Likes: 40
From: South of Raleigh, North of New Hill, East of Harris Lake, NC
Bikes: Specialized Tarmac, Specialized Roubaix, Giant OCR-C, Specialized Stumpjumper FSR, Stumpjumper Comp, 88 & 92Nishiki Ariel, 87 Centurion Ironman, 92 Paramount, 84 Nishiki Medalist
Before I'd put a lot of $$ into that bike, I'd buy a set of alloy 27inch rims/wheels, preferably from a donor bike, add some new tires and a new chain. I'd ride it a few times and see how you feel about sinking more money into it. BTW Do not change the bars, the original Continental bars are alloy and nice.
For more information, search BF for Varsity threads. There are a couple of guys who went down this path with Varsitys. As I recall, one of them got his bike down to about 27-28 lbs. It turned out nice. (If I remember correctly, he painted it purple.)
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