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  • I know they’re not the responses you want to hear, but they really are on point (and probably based on experience). You’ve got a really charming bike there, and getting into a good ridable state is a project.

    My thoughts would be:
    **
    Frame:**

    • Strip, clean, treat rust carefully with wirewool and GT85/WD40, and degrease
    • T-Cut, polish, wax, polish

    Parts to replace:

    • Rims -you want alu rims)
    • either 27”s there are cheap ones knocking about, NOS, or Velocity have a good range http://www.velocitywheels.com/store/categories.asp?cID=17 the Synergy looks like a good bet, but seems to be only 36h, or go for some wide 700s with big chubby tyres
    • Wheelset – unless the hubs are something special that deserve restoration I’d probably just replace the whole lot. You’ve got what looks like a toptube cable guild for a rear hub gear, so something like a SA3 would be quite cool. Otherwise I would just go for which ever silver fixed or ss hubs take your fancy.
    • seatpost – go with a sympathetic alu seatpost with an inbuilt clamp
    • brake pads, cables, etc.
    • Maybe brakes, some nice Malfac centrepulls with good quality modern pads will improve the braking while being sympathetic.
    • maybe bars if you’re not happy with those – possibly something more swept back.
    • maybe brake leavers – can’t really see properly but those look a bit odd.
    • Chain

    Parts to restore/clean:

    • Saddle – just clean and then treat slowly and carefully with brooks proofhide/similar, and probably retention once it’s back to a good supple state.
    • Crankset (usually I’d just say replace a cottered crankset because it’s such an arse, but that might be worth saving. If you don’t then go for a TA onelike this http://velobase.com/CompImages/Crankset/98EAE170-0777-4095-B977-D4E22029E531.jpeg
    • Pedals
    • mudgaurds (polish)
    • stem (polish)
    • bars (polish)
    • headset (depending on condition - clean, remove rust, replace bearings, regrease)
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