That looks like a good score. Any idea what brand it is? If it's a common brand (like Comet), it'll be rebuildable. COuld you use a cable or rod actuated disc brake? I have a Comet caliper, and you could use a #35 sprocket as a rotor.
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Weldangrind
"I figure I'm well-prepared for coping with a bike that comes from the factory with unresolved issues and that rewards the self-reliant owner." - Buccaneer
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