I will check out the LBS - I've got two nearby, but neither ever have anything old school. I end up going to a bike co-op in Santa Cruz for heavy lifting. They have all the tools for use.

Rear spacing is 126. I'm not afraid of cold setting, in any case, as I have done it for 3 speeds for shimano hub upgrades that I later un-upgraded.

I will do as you say - start with the crank and freewheel. But to be honest, I hate geared bikes and am doing all this to see if I can change my mindset. I don't mind spending a few extra bucks and getting NOS Campy, just to give it my best shot. The Campy, in a tortured sort of way, kinda belongs on the bike (at least as much as the Suntour does...) so my vintage predilections won't be too affronted. Assuming the gears change smooth and tight, that is. I think in any case, the front derailer will have to be changed out to handle the compact, won't it?

I already have the chain - LBS sold it to me as a replacement but it won't work with old school 5 speed clusters. Might as well put it to use!

Thanks!

Mark