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@trampsparadise
It is for 700c. Looks like it is doing (chainring/sprocket)*27 which is close enough[/quote]
Exactly. Which is why it's not for 700c. If I remember correctly, 49x15 is close to 85in on 700c not 88in (which would be for 27in wheels).
On street gearing it's close enough. On the track, a difference of 3 inches per revolution could be the difference of first winner or first loser.