[ceolwulf]

A couple people around here have used old "ten-speeds" usually Sekine or Peugeot in this area but whatever is common where you are will work fine. These are 27" wheel so you put some 700c in there and you have heaps of tire clearance. Then the brakes are, well, weak, usually centrepulls but at least they clear with no issues and normally reach the rims; or you can get a cheap eBay pair of long reach dual pivots. Put a decent saddle on and you're pretty much sorted. These frames tend to ride really nicely too, obviously not racey whatsoever but nice and comfortable and quite strongly built too, I mean they're gas pipe after all. If you're on a real budget and also not in a huge hurry (either to get the bike or to get down the road on the bike) this is a fine option. Do make sure to avoid French or Swiss bottom brackets, the bottom bracket "standard" wars go back a very long way ...