I'll second the El Mariachi recommendation. I've got a second generation steel El Mariachi with the sliding dropouts. I had it set up as a single speed for awhile, then built up a wheel around a Shimano Nexus 3 speed internal hub, which I treat like a single speed with a bail out gear, and a go-fast gear. Everybody said it wouldn't work, or that it would break, but its awesome. Most fun I've ever had on a mountain bike.
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