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Could very well be! And indeed I guess this has at least 10 more to go, unless the rust eats through it earlier haha.
Finished today. Boy, what a ride. Was a lot more challenging than anticipated. Couldn't salvage the rear mudguard, entire thing's bent to hell and rubs on the wheel no matter what.
Brakes are crap. I've read a Sheldon article that if you use these roller brakes dry, without their special grease, they are instantaneously toast. Well this one didn't have either of the plugs on the grease ports, and there was absolutely no sign of grease anywhere, so go figure.
The rear wheel has a lot of wobble, the rim itself must be quite bent and I couldn't true it unfortunately.But anyways, it is now an actual, rideable bicycle, so I'll count the project as a success.
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vpCogworks
ltc
With bent spokes in the rear like this, my bet is that someone tried to steal the bike while it was locked.
With a bit of maintenance, these kind of bikes can be used for 30+ years.