I've got three bikes I want to modify in some form or fashion, the 70's Lotus, the Panasonic ATB, my Takara touring bike, and my wife's Univega Mixte. I decided to start with the wheels. The Lotus, Takara, and Univega are all currently sporting 27" wheels on 126mm hubs. With this size wheel there doesn't appear to be any tire available wider than 1" 1/4 (32mm). I'm switching to 700c for a better selection in tires and widths. The Panaracer ATB is an early 80's mountain bike which surprisingly uses an old road bike sized 126mm rear hub in a 26" rim.
Chris (Pondero), being the great guy that he is, donated a couple of old wheels to my cause. The donated wheels are 27" with 126mm hubs. I'm not using the hubs that are currently on my bike because-the rear hub on the touring bike has 40 spokes (not many rim choices), the rear hubs on the Lotus and Univega are Shimano Uniglide (obsolete and difficult (expensive!) to find replacement cassettes). The Panasonic was purchased as a frame only, so no hub there. The hubs were remove from Chris' donor wheels and I got to work.
This is the hub shell from one of the donor wheels. It's a Campagnolo Chorus, at least I think it is, I compared it to photos of similar hubs on Ebay. The other hub is stamped "Schwinn approved".
The Atom 77 Compact freewheel. This is where I ran into my first problem. To remove this freewheel you need a Park Tool FR-4 for Regina/ Atom freewheels. I didn't have one, and I didn't want to order one, so I ran over to a nearby bike shop that's been in business since the 70's. It took some searching but they eventually found the right tool and removed the Atom freewheels from the Campy and Schwinn hubs.
While I had the hub apart for maintenance, I attacked the shell with some aluminum polish. This old Campy stuff cleans up nicely.