Originally Posted by
canopus
I am in the process of building up my 1985 Cannondale ST400 that originally had 27" rims on it. The only problem I had was that the front brake was a tad short (I mean 1mm short) with the original pads to fully reach the rims. So I could either replace the brakes (Tektro makes some with a 55-73mm reach) or what I did was order some original Scott Mathauser brakes shoes and will use those instead with my campy brakes. As long as your brakes can reach I don't see a problem. A 700X35C tire should be about the same width as a 27 X 1 3/8.
Another alternative, if you don't mind the work or modification to your brakes, you can lengthen the slot in your existing brakes enough to move the extra mm. In most cases, you ould expans enough to accommodate the extra 4mm needed if your brakes are bottomed out for 27" rims.