I converted a mid-to-late 70's Fuji Finest to 700C a number of years ago. 
 Some things to take into consideration:  Are you going to keep the same 
hubs?  If so, you'll need to change the rims and the spokes.  Or are you 
going to install new hubs, as well?  If so, you'll have to fish around a 
while to find one with 120mm spacing (I assume that a bike of that vintage 
has a five-speed freewheel or, at the most, a 6/7 speed, which used a 126mm 
hub).  Those will be kinda hard to come by new, but you should be able to 
find some used. Since you've installed a cartridge BB you might want to 
think about a PW hub set, too.  It'll give you a stronger rear axle.  Next, 
you'll more than likely be changing the old brakes for a pair with longer 
reach.  Dunno what the GS has now (CP or SP), but you may not be able to 
move the pads far enough to engage the smaller 700C rim.  There are plenty 
of newer long-reach double pivot SP brakes around the market if you go in 
that direction.  How badly worn is the FW?  Is the chain skipping?  If so, 
you may need to upgrade that, too.  Good luck with that - those are getting 
harder and harder to come by.

Most of all, be well.

On Wednesday, March 1, 2017 at 10:21:03 AM UTC-6, Wayne Naha wrote:
>
> This past Monday a very helpful and friendly orthopedic surgeon kindly 
> harvested a tendon from somewhere inside my right foot and used it to 
> replace a long missing ligament that used to stabilize my ankle when 
> walking.  He also scraped out a good deal of osteo-arthritic buildup that 
> had been limiting the range of motion of my foot.  Recovery has been a bit 
> painful so far.  There can be no weight on the joint for three weeks.  So 
> here I am, reclining on the couch, a little loopy from pain meds, but so 
> far not watching daytime TV.  To pass the time, I'm kind of daydreaming 
> about doing a 700C conversion to my 1976 Raleigh Gran Sport.  It's a nifty 
> little number with double butted 531 frame, fork, and stays.  Years ago I 
> installed a Moustache h'bar and Technomic Deluxe stem, also a new cartridge 
> bottom bracket and a Sugino XD2 triple crank.  Now for the wheels.  I'd 
> like to be able to take advantage of the huge variety of 700C tires.  And 
> going to 700C will give me more clearance for a wider tire, something I 
> definitely want now that I am out in the country with all the washboard 
> dirt roads.  So, any suggestions on how to proceed?  I've never done one of 
> these conversions.
>

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