So the good news was the PRN10 had a nice original wheelset with Super Champion clincher rims that hold a nice pressure, as well as the Stronglight 49D crankset, and the Simplex SX410 rear derailleur. But then also some odd original parts imho: The LARGE spoke protector with a 14-24 freewheel, and the steel Lyotard pedals, both seem on the heavy side for the bike. I kept the drive-train all Simplex, but with an earlier style shifter than the original, and a later style "alpha" front derailleur than the original. Along with a new KMC7Z chain it is actually shifting crisply and quietly, to my pleasant surprise! Gave it a good clean and polish, repacked all the bearings, replaced cables, hoods, tape and tires. Replaced pedals with Lyotard alloy pedals, which I think look good with this, though I've been made aware that they can have a fracture/failure problem and may look for something else. It isn't my size but I just enjoy putting survivors like this back into service in some semblance of their original form. I'll keep it for a loaner, or try to find a good home for it..
Also noticed that the fit of the rear tire is quite close, even with 27x1 tires. Understand it originally came with 27 x 1 1/4, which I can't picture fitting well at all. Wonder if the frame is really more optimum for 700 x 23-25, may pop in some of those at some point just out of curiosity....