General: What to do with it?

I got this old ass bike off CL for $75. I was told it is from the 70's. It's branded "Huffy" and also says "woolward and wooler"

But I was told Serotta is actually who built the bikes. They just made them for Huffy, thus, the Huffy label on it.

I wanna make it a track/fixie but:

1. it has 26" tires (i feel i need 700c but dunno if they'll fit on the frame)

2. it has vertical drop outs (never mind, it has horizontal, i am an idiot)

I'm a noob but I did some Sheldon Brown reading and it seems I may be taking on too much since I have the vertical drop outs.

What should I do with this bike? my main concern is getting some 700c's to fit.

Pic:

http://images.craigslist.org/1fa1421g43nd3m73l98cl33e034dd1c4a11f5.jpg

Posted By: terrible_one49Sell it for a profit, and just read up more and educate yourself on what you really need for making a fixie.

I posted it on CL for $150, then $140, now $100. Nothing so far. I may just ride it around until I can save enough for this:


http://bikesdirect.com/products/mercier/kilott.htm

Those are almost certainly 27" wheels, not 26". 26" is usually for mountain bikes.

It has diagonal dropouts.

The Serotta Huffies were, if I recall, a set of high-end racing bikes for the 7-11 team in 1988. They're pretty uncommon. Go ask at a friendly local bike shop and see if they can identify it. My guess is, weight will be the easiest determining factor.

My guess is it's a pretty cheap frame. It looks like it has one piece American cranks. A lot of older American bikes used 27 inch wheels for their bigger frames and 26 inch wheels on the smaller frames, so the wheel could be 26 inch.

if you look at the pictures it has 26 inch wheels

that's a trash can bike, maybe worth $50, or whatever you can get someone to pay for it