The bike looks terrible but the frame seems straight and sound. If I use this bike I'll need a new wheelset, The wheels in this photo are donors from a high end 80's mountain bike (that bike has a stuck seatpost that won't come loose no matter what I do). The hubs are nice looking Suntour's marked "sealed bearing hubs". I'm going to remove the hubs replace the bearings and build them into a nice strong wheelset.
3 hours ago