Aight, project time: I'm trying to get this MB-1 built up before September for some chill autumnal cruises and as my commuter for my EMT-B classes I'll be starting in... holy shit, 5 days. I need to decide on whether I'm staying 8 speed or joining the modern era (still sticking with a triple up front, or maybe a "Turkey Vulture" double). I'm gonna get a little flashy with my brakes and get some anodized dia-compe cantis, green and blue, and a matching set of levers. I'm planning on going with friction shifters, just a question of whether I am cheaping out and getting Microshift or balling out and getting some Riv Silvers. I'm hoping to find some fun straddle hangers, some silver metal fenders and maybe wrap things up with a Pellago commuter front rack to hold my textbooks.
I still need to pick a rear hub (36 holes, 135 OLD, and preferably not one of those newfangled hubs that sound like a goddamn buzzsaw), run spoke calculations, and pick a set of dynamo powered lights. This is going to be my first wheel build (and then I have 4 more sets I'll need to build up for my housemates. I think buying a truing stand is justified at this point. :P)

I'm a little nervous about the damage to the drive-side chainstay, but I'll be treating the area with boiled linseed oil to prevent further rust and will be crossing all of my fingers and toes extra hard.