Bianchi Project 1
 

Does anybody have information about this bike?

http://i86.photobucket.com/albums/k1...375b4ebb78.jpg

I found that one for sale for $150. The owner doesn't know anything about it. I'm trying to find a road bike to convert to a single speed but I think this is a hybrid bike.

It's hybrid, but would make a decent FG if it has horizontal dropouts. But I doubt it does, so that's the first thing I'd check.

Would a 700x23 wheel set fit/look right?

The Project series were actually positioned above the hybrid line. They were 700c "cross terrain" bikes-- the original "29ers." The original lineup from top to bottom was Project 7, Project 5, Project 3. The Project 1 was added to the lineup sometime after 1992, and could be thought of as a low-end cross terrain bike, or a high-end hybrid.