• Hi again, glad to help.

    Firstly, I wasn't really suggesting you change everything, just if you did, those are some of the problems you might face. Anyway,

    There is no such thing as an "indexed" rear mech. The indexing is in the shifter. The rear mech simply moves in response to the amount of cable pull exerted by the shifter. Indexing means that the cable will get pulled a set distance for every click of the shifter. Thus, an inexpensive new rear mech will do.

    Ok, back to chainsets. Replacing the chainrings is possible but could work out more expensive then a new chainset. You have to work out what the BCD (bolt circle diameter) is on your existing chainset. Sheldon Brown's website give a list of possible sizes and also, how to measure it. TA probably make the biggest range of replacement chain rings. There is a big list on their website.

    However, you may find something like this a better bet:
    http://www.charliethebikemonger.com/driveline-compact-double-chainset---square-taper-175mm-5034t-1909-p.asp
    Inexpensive and includes a BB

    BTW, I don't know what your budget is but you can get a perfectly serviceable aluminium road frame for about £200.

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