I'm getting up to 45miles/week now, not sure what winter will do (nothing good) but I'm loving every minute I spend on a bike. Like everyone else, I've got a budget to live off of, so I can't go buying lots of expensive bikes--which is how I wound up with my Panasonic. The question is, would I be better off spending a bit of money on this, or flipping it and buying something like a Dawes Lightning or some other 200-300 bike? I mean, between birthday and Christmas and saving between now and then, I could probably get up to $400 for a new(er) bike. Or I could spend a bit now, fix this part, then fix something else later. [You get the idea.]

My only thing to confound this: Begining of September I have a vacation up in Acadia, one week long. I already informed the wife that I'd like to bike say 100 miles, and she had no problem with that. While I couldn't get a new bike in that time (I think), if I'm going to keep it then I need to get working on the big items.

Panasonic Pro's:
-paid for
-the 53cm frame seems right size (see below for note)
-I'm fine with its current speed
-seat seems comfortable enough, albeit I'm always sliding forward

Con's:
-I'd almost swear that the 57cm top tube is a pinch too long--I seem to almost have to stretch out when I'm in the drops. I can have my elbows flexed, but not much. Could be just me. I doubt that, in my price range, I'd find a whole lot of difference from bike to bike. See next.
-probably could use a new stem: I think it's raised as high as it will go, but the top is still an inch below the seat.
-rear derailer is on its way out. It's a stamped metal affair (Shimano Z502), and at least one rivet in the parallel bit is working its way out. Wicked backlash in shifting (move shifter quarter inch to shift, then eigth inch back or it'll try to shift again).
-front Suzue cones are pitted badly. Have no idea where to source that. A 700c conversion might be nice, then I could fit some fenders.
-rear sealed 6001 bearings are shot. Can source, but I think I put a flat spot into the rim from overtightening, when I tried to true the rim. Same 700c conversion note.
-Oh, and rims aren't greatly true, just true enough to not rub the brake pads. They are alloy though.
-32mm wide 27" tires ride nicely, but I suspect thinner 700c tires will make me feel faster. But I don't want any sort of tire that I'd have to carry a spare for: I'd rather ride slower than ride fast inbetween flats.
-I've thought of moving the stem shifters to downtube shifters. Not a biggie, but it's still an expense.
-gearing needs to change. Currently a 52/40 chainring with a 30-13 6 speed. I'd like to keep the freewheel range (although a 7 speed would be nice!), but maybe drop to a 34/48 for more hilly terrain.
-bottom bracket is cup and cone, and the drive cup has a huge groove in it. Sealed unit would be the best way to go on that I know.
-local coworkers (who are into biking) would think I'm nuts for spending any money on this, and they know more about parts and bikes than I do.
-paint is aweful on this thing. It's a high point though to me--while it might rust, I have no problem leaning it up against anything.

Thoughts? I keep an eye on the local Craigslist; ebay is nice but shipping prices are up there. I basically just want a decent road bike; although this is a "heavy" road bike (I think 25lb), it does get the job done without too much fuss.

A longer stem with shorter reach sounds like one way to go. I'd try that, ride your 100 miles up in Acadia, and see if you still like it or want to put money in to it. As far as sliding forward on the seat, try tilting the nose up a few degrees, and also make sure the saddle is pushed as far forward as you can in the seatclamp to deal with the stretched-out feeling.

Neal

I wouldn't spend much on it. You need a new wheelset, new RD, new crank, and still want to upgrade from stem to DT shifters. Unless you have the parts laying about and can do the work yourself, it'll add up to way more than the bike is worth. And it'll still be ugly......

Keep it running, and look for a better bike at all the usual places - thrifts, garage sales, etc.

In the meantime, I can check my parts bin and see if I have a RD and mtb crankset (you can remove the small ring) that I can send your way.

Thanks for the advice, it was sorta what I was thinking. I'll basically shop around: if I find a good deal on this or that, then I'll get it--but I'll keep any purchase low in dollar amount, so as to be saving for something better.

Who knows? Maybe I'll fix this into a decent winter/wet weather beater, err, leave it as it is and use it as a beater after that new(er) bike.

Shawn,

You need to bring the Panasonic up to my house and we can see what spares I have that will take care of these various issues. As long as you can look past all the clutter in the basement and garage, and can deal with my disorganization when it comes to tools, I'll let you see my collection of bike stuff. But no word to anyone else! OK?

Opps! I thought this was PM!

Bob, I won't tell nobody about all the non-Schwinn Italian bikes you cut up for a homemade bike rack.

I appreciate the gesture; I'll have to take you up on it. I just took a look, and I think that RD is holding up better than I thought--I guess my crimping it back together might hold up. So maybe one less part. That reminds me: this past weekend, I did that hill going into Newbury, on 103. It's a long one! Funny, didn't seem so long on the way back... at 47mph!

Now the word is out on what I do with the foriegn beasts I haul home from the town dump.

I've only riden up it once. But I've never hit higher than 45mph going down! Did you stop to take a picture next to the rock which reads; "Chicken Farmer, I still love you!"?

Not Yet. I've got to give in and buy a low-end digital camera for my rides (and bike pics and everything else)--my wife dominates the "good" camera for pics of the kids.

The only bikes I've seen in my transfer station were Huffy's, and I'm not sure that I can pull them out of the dumpster (not sure I'd want to climb in either).

Trasholo? Dumpannati? Skipolini?
c'mon PB, we want to know?

I'm just joshin about the Italian bikes at the town dump. About as close as I ever got was a very low end Peugeot and a 5 speed Motobecane city bike. The chrome fenders on my Travler came off the Moto.