single-speed bikes: i still love them to pieces

I sold Stompy III last year when money was tight and I knew I had no business riding a singlespeed off-road bike anymore. And while I don't miss that bike in particular (except for the handebars, but I digress), I DO miss having a singlespeed in my stable.
Sometimes it's really nice to just throw a leg over a bike, stomp on the pedals and just GO somewhere, without thinking about anything over than stuffing a mini U-lock in my rear pocket.

So yesterday, I scored this lovely number (at left), with the express goal of converting it to a singlespeed bike.

It came with thoroughly rusted wheels and chain, a pretty rusted handlebar and stem, and rust pretty much rust everywhere. But the paint looked good, and dripping some ProGold or Weigle's inside the frame should be enough to deal with anything in there. I MAY choose to save the handlebars and stem, but the wheels are already earmarked for the metal recycler.
It just depends on how cool I want this bike to look when it's rideable again.

The decision to remove rust rather than replace a part is case-by-case. The handlebars are definitely salvageable, as is the crankset and bottom bracket; but the rims are beyond saving and as long as I'm dismantling the bike I may as well upgrade the bottom bracket and crankset anyway.

Stay tuned. This will be fun.