Have a frame, want a SS or FG
 

So I have a Calfee Luna road frame that has been stripped of parts. I am thinking of making it a SS or FG bike for less hilly rides. I have a headset and fork too. I also have a Dura Ace 177.5 53/39 crank. Would the crank be useful or do I need a specific crank for the one gear setup? Any other tips for the conversion? Thanks.

177.5 is gonna be kind of long for a road conversion going fixed, which is a shame. Save that set for another road bike later on.

The Luna has vertical drops, IIRC. Your best bet would be to run it SS with a tensioner. Another option is to run it fixed with an ENO hub.

Another idea. See if you can trade the crankset for an ENO wheel. Then get a shorter crankset on the cheapy cheap and you'll be set, assuming you have everything else you need.

You just need to consider the chainline. You should take off that 53 and just use the 39, unless you
buy a size in between (if you want cheap, get a Rocketring chainring). Remember, you need single
chainring size bolts to do this. They are pretty cheap, but absolutely essential. With using a single
chainring, you also have the option of attaching it to the inside or outside edge of the crank. Again, this
is to help in achieving the straightest chainline you can.

If you arent afraid to build a wheel, just get a $40 hub from IRO cycles.

Some riders might suggest shorter cranks than 177.5, but you may be ok.

I would not use cranks that long for fixed gear unless fit demanded it. It's pretty easy to sell parts that don't work for you and buy ones that do. If you're going to go single speed, which would be easiest with vertical dropouts, those cranks would be jim dandy.

So I guess the question is, do you want to go fixed or just single speed?

Well if they're using clipless (with Dura-Ace, I'd think they're clipless), the length might not be a problem. Trading for an ENO wheel is a good idea though.

I have a fixed gear Langster I use on the track, I guess I could go SS on the Calfee. I like the way a fixie rides though. It seems that with the vertical dropouts make a SS more practical. I'll have to think about that. I don't have to use the DA crank though it would save a bit of money to do so.