Just another update as I continue to clean, grease, adjust, and assemble this bike. The front wheel that I am using is off of an old Raleigh 10 speed. It took a lot of rubbing to remove the rust from the spokes and rim! I greased it and set the bearings.
I have installed the star chain ring, some new jeweled Torrington pedals, and the chain guard. I am still a little less than thrilled about the amount of chainring showing at the top, but I feel that this was the best compromise.
I got rid of the original S-7 hoop in the rear but saved the good part! I laced a random chrome hoop to the bendix red band 2 speed hub after I cleaned everything up nicely. Then I tore down the hub and cleaned it and repacked it. WOW, my first time into a 2 speed, thankfully I work on transmissions some. Because that is what the insides of this hub look like. A planetary gear set, some friction and steel discs (brake) very similar to automatic trans clutch packs.
A cute item to match the theme.... rocket valve stem caps.
I also polished up the rear rack. Man, that old Schwinn chrome really comes back to life with a little aluminum foil scrubbing!
So, here is the bike as it sits right now.