Originally Posted by
bblair
Sent a contact to Waterford and got a quick answer from Richard Schwinn himself!
He confirmed 120mm rear spacing and 27.2 seatpost.
I have no doubt that they can refurbish to look even better than original, but I have to think very hard whether or not I want to spend $850. I would have over $1000 invested, frame alone.
I NEVER stay on budget restoring Paramounts. As you note, while Waterford's work is top shelf, you'll need to decide if you really need new paint. To me, the original paint looks pretty darn good.
I'd seal all openings except top tube and pour EvapoRust inside the frame from the top tube, reseal top tube opening or position frame upright and let it stand for three days. Pour the Evapo back in the jug (you can reuse). Then, wax with Mothers cleaner wax to really get an idea of how the paint CAN look.
For stubborn scratches, mars, etc, start with Meguires swirl remover and then progress with 205 and 105 if needed. Rewax.
When you see how well the original Schwinn paint cleans up, you may rethink painting.