I love the high ten steel frame of the old Ross. The Euro tour as I've been told by many here was the lowest end bike put out by Ross - I think they meant components because the frame is very solid. I haven't altered the frame in any way except sanding old paint off and repainting.(the enamel color will be cured in a week). I'm also rebuilding it with the original fittings, cups, bearings, one piece crank set, fork, and wheels and upright handle bars. The only braze ons are for the rear caliper brake and a kickstand bracket and seatpost clamp.. All cables were held on with plastic clips. There are NO model numbers anywhere on the Shimano hubs. I no longer have the derailers.
I see what you mean about the chainline, but I plan on respacing the axel and probably having the wheel redished anyway.
The freewheel I bought at my LBS.. it's full steel construction under the Diamond back label.. but the freewheel itself says DICTA on it.
I've been told that the only solution to is is to get a fresh wheel with a dedicated singlespeed hub.