so i've got a frame, it's alright, i have no idea about the specs of it. i bought it off of a friend and it's spray painted black so there is no brand, nodel or anything. it's got vert drops, i have 27" wheels and it's a ten speed, riding front brake. the bike is light, frame is okay and the fork is okay. needs new pedals. should i build it to a fixed or just buy a new one?

do what you want. it's your bike and your wallet.

Reminds me of a saying. Anything can be done with enough time, money, or brains. Pick two.

vertical drops=no good. Its possible, just alot more time (and $) consuming than if you had a diff frame with semi or horizontal drops.

My .000002 cents
Vertical drops will probably lead to either a good amount of money spent or a good amount of hassle to get a fix set up right. If you need new pedals too, consider just picking up an older lugged steel bike (or just a frame) with horiz. drops and getting a wheelset from nycbikes.com or irocycle.com