Thanks Mike, My favorite bikes/daily riders are three speeds. I've had numerous raleighs, sears, and huffys etc. I've always been drawn to the lighter weight of the flimsy department store bicycles from the 70's but less then thrilled by the cheapness of the compenents. Lately I've been into french 650b randonneurs or 80's mountain bikes converted to porteurs.
Anyways, I've never even considered schwinn lightweights due to their heavy overbuilt frames that feel dead to me. I must admit. When I saw the ad for this bike, I was sucked in by the frame mounted sturmey archer shifter. I've never heard of a 40's continental.
Upon closer inspection I realized how "fancy" this bike is. I went to pick it up and realized it wasn't all that heavy. The rims, bars, and fenders weren't rusty? That's odd.. Having the seatpost clamp missing was a blessing in disguise. I was able to see the wall thickness of the seat tube and realize this ain't no typical heavy schwinn lightweight. Right when I got home i googled schwinn continental and I came across your blog (which I completely love), and did more research about this one. No way it's being parted out! I can wait to get it back together. My sturmey archer hub says AW. I don't see a date on it. I'm very pleased by how original this bike is down to schwinn tires, original grips, the original cables and raw metal wound brake housing. This bike might be exactly what I've been looking for having a lightweight nimble frame and quality components.