You can run a compact on a vintage bike as well with the right crank such as a TA cyclotourist or a Stronglight 99. I recently built up an early 70s Motobecane Grand Record with a TA crank. The original gearing was 52/40 with a 14-26 5 speed rear freewheel. That provided a low of 41.5 gear inches. I built the bike up with 46/36 rings and a 14-28 5 speed rear freewheel which gave me a knee friendlier 34.7 gear inch low. I should search around for a 32 inner and run this as a 46/32.
