My old Emmelle is proving a handy source of random bits and pieces. Except for wheels, as the axles are too short. This morning I threw a tube and tyre I robbed off the Emmelle onto the cleaned up front wheel. I also removed the original saddle and it's weird non-standard clamp, and replaced it with a standard old style clamp and a Selle SMP that's in my parts box.
Then this afternoon I took the bike for an exploratory spin. Despite the fact I had to walk home (yeah, I know, the one time I don't take any tools with me) it was pretty informative, and I now have a better idea of what must be done and then at a later date, what will be nice to do but is currently not essential. As for the musts (in terms of parts), these are:
1) Tubes and tyres - will be going for a pair of hybrid tyres as I've got a set of knobblies.
2) New cables all round, inner and outer.
3) Brake blocks.
4) Layback seat post and saddle clamp - am just a bit too cramped with a straight post.
5) Metal brake levers - plastic-covered wire levers are just a tad bendy.
For all that riding on knobblies on tarmac is like riding through treacle, the bike itself isn't bad. Of course, it will never be as zippy as a road bike, nor will it ever give the impression of being able to keep going comfortably and effortlessly all day long like a hybrid, but it feels stable and sure-footed and is actually quite fun.
Those plastic brake levers are really unnerving though, and I am most definitely not a fan of twist shifters.
The gearing will need thinking about. As I'd presumed, much of the range is too "spinny" for the flat. The freewheel on the back is a 14-28, which is pretty well much standard. Unlike the freewheel, which is Shimano SIS, the chainrings are some no-name el-cheapo unitary construction. They're not in the best shape, so they will go. The derailleurs work, so will probably just clean them and reuse. Rear is Shimano SIS, not sure what the front one is.
On the upsides, the distance between the rear dropouts is 130 mm, so if I have read things correctly, I should be able to squeeze a 7-speed freewheel on there.