Joined: Jan 2009
Posts: 44,306
Likes: 6,564
From: New York, NY, and High Falls, NY, USA
Bikes: 1962 Rudge Sports, 1971 Raleigh Super Course, 1971 Raleigh Pro Track, 1974 Raleigh International, 1975 Viscount Fixie, 1982 McLean, 1996 Lemond (Ti), 2002 Burley Zydeco tandem
The UO8 can take 700c rims without replacing brake calipers!
I would wait to replace the crankset and pedals. Replace the wheels and tires first.
Some UO8's came with decent pedals which accept toe clips. They are durable, too.
Why does the seller think it needs new brakes? Chances are, replacing the cables and housings will make the brakes work again. Oh, you may need new brake shoes. Get the Kool Stop brake shoes. Mafac Racer brakes are hard to adjust but otherwise excellent brakes. It's a shame they're not made any more.