One thing I have never been happy about with the Schwinn 3-speeds is the use of a 1/2 pedal spindle. The 1/2 inch spindle size tends to bring out a lot of pedals that are more modern than a 1940s-50s bike should have. The best option has long been to run original Torrington, Schwinn, Wald, etc. pedals. The problem is that many of the older pedals are worn or bent. This is not a great option if you put hundreds of miles on a bike in a season - 60+ years old pedals just don't always hold up.
I looked into pedal adapters that would allow a 9/16 pedal to run on the cranks, but the pedal-to-crank spacing was changed too much for my liking. I also considered tapping-out the spindles to 9/16, but did not like the idea of permanently modifying such parts.
So I was happy to find that through a Japanese eBay seller, I was able to buy MKS 3000S pedals (traditional rubber blocks, no reflectors) in the Schwinn 1/2 inch size. For those interested in a traditional, newly-made pedal for Schwinn lightweights, consider the MKS 3000S with a 1/2 inch spindle. The quality is good and the look is good - they're a classic black rubber block pedal that can be torn-down for re-greasing and re-building. I had several 9/16 spindle sets for Raleighs, and with the 1/2 ones, I have some nice alternative pedals for Schwinn 3-speeds as well.
These pedals are brand new, but fit great in this 1940s-era set of Schwinn cranks.