Personally I think 300 is high for an old bike that's not, say, a collectable Bridgestone, Waterford, Mariposa, etc.
You can't just slap a smaller wheel on the back- the brakes won't be in the right place, just to name one issue.
I don't know...this bike looks really long for a smallish bike and I would guess the reach would be uncomfortable for you. Plus the gearing is not made for hills.
Also, in the 80's Terry might not have been making 'only their two smallest sizes' with two sized wheels.




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