Sweet ride... always loved that GR paint scheme. Nice lugs, too.

Alright. I just fell into what I think might be a really good deal. Here it is

At the moment, unknown wheelset with Suzue SIW hubs (flip-flop) 16t dura ace cog and lockring and 17t on the other side w/ new tires tubes. 165mm Sugino RD cranks.

All for around $125. The only problem I see is that most of the gear is 2+ years old. I think the parts have been through a couple winters, so I'm not sure how much wear and tear this would cause. Also, I'm assuming these were parts from a messenger bike. According to the guy it's all in good condition. What do you think? Good deal, or be very cautious?

Inspect everything closely, be prepared to true / rebuild the wheels with new bearings. I've never heard of SIW.

Good deal.

I think the SIW is the basic hub. I've read where those are crap, but I've also read that when paired with a dura ace cog, they work pretty well. I'm not sure if I should risk it, but cranks and wheelset for $125 would get me rolling on this conversion.

depending on the reach of the brakes, they may work for both 27" and 700c wheels (4mm difference, right? combined with tire profile...). Definitely spring for new brake shoes, and I second the recommendation for salmon Kool-stops--the larger Eagle type if you can fit 'em. They work beautifully. I'll bet the brakes are OK, just need to be taken apart and cleaned+lubed. (which is kind of fun, but make sure to draw a picture so you can get them back together again...)

I have the Suzie basics, running them for a year and no issues. I paid $150 shipped and feel I got an OK deal. I paid $35 for my used Campy road cranks, so it seems to get rolling, you'll not find a better deal within the next few days.