Chime!
Got to be a busy week. Glad someone finally picked up that bike off the CL so I wouldn't have to be tempted with it. If the rear hub is a Bendix 86, then the wheels were switched out at some point, as that hub is from 1986 or later. Correct Bendix hub would be a smooth shell style. New Dep would also be correct, but I've never been a big fan of those, but some folks like them. And the issue with both of these hubs is that the cogs are screw-on, and after 60+ years they don't really like to un-screw, should you want to change the gearing. My 2 cents on this bike, take it for what it's worth, would be to do a resto-mod on it. Which is to say, find the correct cosmetic parts (front fender with fenderlight, etc) to make it "correct" and then update the drivetrain with modern stuff. My current favorite set-up on these oldies is a Nexus 7 coaster in the back paired with a modern alloy Sturmey drum brake up front. And if you don't have the original hoops, and don't feel like dropping good money on questionable used S-2 rims (and dang, there's plenty of them lurking out there) then rock out some modern alloy hoops. And then drop some Bontrager Hank tires on it (fat, light, fast) and then ride the hell out of it. If you're planning on doing the full repaint / rechrome thing, then sure, keep it a single speed. But if you're keeping the original paint, then you might well want to consider updating drivetrain if you plan on riding it much. Again, just my 2 cents.
It's a nice enough bike to start with, that's for sure. What did you end up having to give for it?
Cheers, Geoff