After riding it some more, I still think this bike is unbelievably fast even when fitted with upright handlebars. Something I'm noticing in the photo just now is how funky it looks with its road bike geometry - the saddle doesn't sit as far back over the rear wheel as I'm used to seeing on upright bikes.
After putting up with the fat seat for another ride, I decided that I could no longer keep using it. I bought a Planet Bike women's saddle to replace it. Despite the fact that it isn't sprung, the bike rides much more comfortably now. The width of the saddle feels pretty good: it isn't so wide as to obstruct leg motion but it's wide enough to sit on in an upright position. The quick release seat clamp is there so my friend can borrow it without having to ask me for a wrench. Also, I finally found some medium cage derailleurs for a low price. I replaced the short cage Sunlite derailleur with a Shimano TX35. Shifting is noticeably smoother now, but I am still unable to find out why the smallest rear cog likes to skip under load. I know this isn't an issue with chain length or tension because it does that with both of the front chain rings. With the previous derailleur, I even shortened the chain to a point where it couldn't be any shorter and it still skipped. Needless to say, the limits have also been adjusted correctly. I have absolutely no idea what is causing this so I have no choice but to lock the derailleur out of the tallest gear. It's funny, I have two "10-speeds" running non-original gears which are actually 8- and 12-speeds because of shifting problems. Both are locked out of their smallest rear cog. Lastly, I threw on a cheap derailleur guard in case my friend falls over while riding it or it gets bumped into at the rack.
This is just something funny I noticed after riding it in the rain. It's pretty obvious which wheel is aluminum and which one is steel just by looking at the water marks on the white wall tires.
U of M registration stickers. It's ready to roll (well, more ready than it was before)!
Mother and daughter, except not really. That newer one is also a Schwinn, in case the photo isn't clear (it was taken with my phone). It's a 7-speed town bike as far as I can tell and I don't know who's it is. This photo was actually taken before the updates.
EDIT 7-27-15: The smallest rear sprocket skips because it is extremely worn. Last person who used the wheel must have never shifted gears and never cared for their chain (aka an average rider).
EDIT 10-19-15: Swapped the original 1972 freewheel onto the 1976 wheel so all gears work perfectly. Bike recently found a good home with a road cyclist who wanted a town bike.
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