I'll spare you the step by step and jump to the (nearly) end.
Probably looks about the same here but a lot has changed.
Not sure what I was thinking with the front brake, the hanger on the link cable should be lower. Maybe I'll fix that when I switch to aluminum bars in the near future.
The derailleur is going to be changed to a silver short cage all metal number that I need to pick up from a friend. I've got a new chain to install then too so the cage won't be extanded as far. I've pretty much given up on the magic gear ratio to make it work with no tensioner. 48/20 might work with regard to chainstay length, but the ratios would be off to far me thinks. I'll ride it like this and give it some more thought but a derailleur is most likely going to be used. The seat post will likely have to go, with the laid back seat tube I can't get the nose of the seat down as far as I'd like and it's not worth modifying parts to make it work.
I think the brake cabe routing worked out. I still haven't figured out what to do with the unused braze ons for the brakes. I may bolt the Deore brakes I bought for the front end on there just to take up the space. I'm not going to be using them in the foreseaable future!
There are still some things to do but it's rideable. I ran out of daylight today but he weather is supposed to be nice tomorrow so hopefully I'll get out on it.
Oh yeah, the back end of this thing is HEAVY now... that hub ain't light...