Price dropped to $50 and I ended up buying the bike. It is in great shape and everything seems original except for the rear brake pads. The ride is much better than my hybrid and I get a chain guard and fenders as a bonus. I decided to ride it as is until I have a major problem such as the derailleur slipping before considering a change to an internal hub.

I do plan to do a little preventative maintenance while I tune it up such as replacing the front brake pads and possibly some cables after I ride it around a bit more.

I wondered what grease I should use to repack the wheel bearings to make everything glide smoother. I have used automotive grease in the past but if a bike specific product works better I will use that.

I am usually on a budget and just grab replacement cables and pads from a big box retailer and then become disappointed as the parts do not perform. What affordable cables and pads do you recommend to use as replacements?

I have one other question. I am a tall rider and the front stem is a little short. I assume that it is a special size like everything else on the bike. I will check Velo Orange to see if the have taller stems.

I looked through old Raleigh catalogs but cannot seem to find the right date for this one.

Thanks for your help and I love the bike.