The jump up to 27" and down to alloy rims was the natural progression of cycling advancement. Yes, 27 rolls better- especially 1 1/8 opposed to 1 1/4" tires when I had my first Varsity as a teen, I soon found this the fact of life, and it did come with a little trade off- the 1 1/8" tires wore faster and needed replacing sooner- but back then, at those prices, and knowing the shortcomings of the poor old Varsity, not much of a trade-off.
I'll soon be getting rid of a Hercules 3 speed frame I put some 27" 3 speed coaster wheels from a Schwinn World Tourist on. I always wanted to try 700's on a three speed, but circumstance led me to this first. I found the 27 wheels fit, although the front starts to impede on the turning radius a little bit- I was surprised the front is more trouble than the back. (The bear trap pedals do NOT help this! But wide pedals are great for climbing, especially sans clips and straps) 700c wheels would be a slightly smaller solution- fit the frame- and work well on a three speed I think. Plus a larger selection of both rims and tires- I'll concede- but usually pick as thin as I can go.
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