I've got a pretty decent stockpile of parts kicking around. When it came time to choose a crank for this bike, I considering improvising a solution using some low end stuff I'm never going to use, but nothing really seemed up to my standards. So instead, I decided to go with this half-decent Sugino I got at the Portland Bike Swap. I only paid 2 dollars for it due to some pretty heavy but largely superficial wear. Anyway, I stuck them on the bottom bracket and this happened:

Note the distance between the chainring and frame. Now, there's nothing about this set up that's technically wrong, but for our purposes, we want to close up that gap as much as possible (I'll come back to the "why" of this a little later). Note how there is an impression in the frame to make room for a really close fitting crank. The goal is to move that chainring as far in as possible.

These are bottom bracket spindles. The one in the middle, I believe, is the one that we just had the cranks mounted on. The other two are spares I had lying around. The goal was to find one that was notably shorter than the others. Unfortunately, these were all pretty close to each other. So I went down to my friends at Port City Bikes and bought a new spindle that was basically as short as possible. Here are the results:
The (nearly) finished product.
Handlebars: $13
Brake Levers: $2.50
Brake Cables: $4
Crank: $2
Bottom-Bracket Spindle: $10
Pedals: $5
Chain: $12
17t Freewheel: $15
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