Joined: Nov 2006
Posts: 19,810
Likes: 597
From: NJ, NYC, LI
Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
If the axle thickness is a problem, it won't be a major problem; file a little on the bottom of each dropout, and it'll be okay.
I can't tell the number of spokes; at some point in the 70's Raleigh changed from 32H front, 40H rear, to 36H both wheels; if this bike is from before that time, then you won't be able to find a 40H Nexus hub to use with that rim. But that's probably not a big deal; just get new aluminum rims, probably in 700c, and you'll be fine.
All in all, I don't see why it should be a problem to change this bike over to a nexus hub, and i'll make a nice bike.