1982 Schwinn Continental Fixie

This is the start of a blog I will try to keep to organize my projects and give info regarding what you should and shouldn't do (I learn the hard way, you learn the easy way...what could possibly go wrong).  Comment if you have any questions!

Last year I bought an old Continental for $6 that needed quite a bit.  After reading online I decided to try making it a fixie at the lowest cost possible.  I started by taking everything unnecessary off and then attempting to weld the internals of the freewheel (not worth the effort, just get a track cog).   I bought a track cog and bottom bracket lockring (don't get a fixie lockring unless you have a fixie hub they thread on the opposite way and have a smaller diameter).

This is with the original freewheel.  The bike came with a very nice Bontrager hard case tire on the front.  The rear tire (seemed original) later developed a cyst when I put in the recommended pressure for a triathlon.
The parts I have bought for it are as follows:
17t track cog - $9 (amazon)
Generic SS chain - $5 (slightly used from bike shop)
Pedal Straps - $3  (thrift store)
Vittoria Zaffiro 27x1 1/4 tire - $25  (amazon)
Selle Italia (Cervelo branded) TT seat - $10  (take off seat...all the wear in the pictures was from me though)
Front axle - $4 (from City Bikes in Portland)
"Schwinn approved" rack - Interesting story here...I got this off of another bike I bought to make a little money on.  It came on a Specialized hardrock but after a little research I figured out that this is the exact rack that would have come on the Continental this year.  =D  Kinda cool...

The work I have done is as follows:
rebuilt both hubs, bottom bracket, headset
recentered rear wheel
dished rear wheel  (in the future I may post a how-to for this)
trued both wheels

The following pictures show how the bike is now.

 The electrical tape is to protect the frame where the paint is chipped...rust is never friendly.

 Origional crankset.  I honestly hate 1 piece cranks but I was going cheap.  44t

 Clean look of no tape on chrome drop bars... love it.  cold in the winter though.  The front brake is just a security precaution.  I virtually never use it.

 Gorgeous high-flange hub

bontrager hard-case tire

 Vittoria Zaffiro tire

 I found out you need a rear reflector and headlight to ride legally at night...he was a very nice officer.

Take off seat (modified rail mounts) seat post clamp off a Walmart parts bike (very handy and not any heavier than the original steel bolt)

Here's a pic of the cog/lockring and axle.  I used axle nuts and washers as spacers but finding the right width and spacing was quite tough.  I recommend just buying spacers if you don't have a ready supply of parts.  Something like this:
http://www.amazon.com/Wheels-Manufacturing-2mm-Axle-Spacers/dp/B001GSKHM6/ref=sr_1_1?ie=UTF8&qid=1385232435&sr=8-1&keywords=axle+spacers

Make sure you get the skinniest cog width you can.  It makes life easier and you don't need an extra-wide chain.  For best (and safest) results use red threadlocker to hold the cog and lockring on (since they both unscrew the same way)  I don't have it, but it's a good idea nonetheless.

Feel free to comment with any questions!