70's Peugeot to Fixed Gear Conversion I have an old 1970's Peugeot frame (originally a 10-speed, I believe) that I have been slowly trying to convert to a fixed gear bike. I am at a complete loss for which wheelset is appropriate. I have a rudimentary wooden ruler that says the rear dropouts are 122mm, which doesn't sound right. From what I understand, it should be the standard 120mm... The frame has no dents and doesn't appear to be bent, at least to the naked eye. The front dropouts are 97mm.

Can I feel comfortable ordering a 700c wheelset with 120mm frame spacing?
Yes, you can use 120mm hub. In my opinion the frame is well within tolerance for 70s steel bike. If the difference bothers you, you can add an 1mm spacer to each side between cone and locknut.