A few nicks, and decal wear, and after some minor polishing
The crank was the only flaw. It was bent on the left side. After a visit to the Ant cave, I removed one from the old brown varsity. The spokes were all loose, and the rims warped and weird. After re-truing the rims by hand (no stand yet, I am on a tight budget) I set them in and checked them with a dial indicator mounted to the chainstays. With lots of rust removal on the rims, new tubes and tires, handlebar tape (for some reason the original Schwinn handlebar tape even in horrid condition photographs well), a planet bike rear rack, and some grease in the bearings... here it is.
It rides and shifts like a dream. After years of indexed shifting, I love returning to friction shifting. It is likened to the difference between the Millennium Falcon and the Starship Enterprise (next Gen). It is better to nudge or tweak an adjustment on the go, rather than having to stop and make several technical adjustments. So yeah the Enterprise is cool and sleek, but nothing beats hitting the dash to fix the problem.
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