I've converted my 1983 Fuji Espree to a single speed. It wasn't cheap, even if you do work yourself. 
First off, your brakes don't seem like they'd have room to move down for different (700c) wheels.
If they don't you'd have to re-lace and re-dish the existing rear wheel and add spacers in place of the gear cluster to make them single-speed compatible.
Barring that you could just get a Surly singleator and tension the chain and get rid of your shifters.
And my frame is lighter with alloy wheels vs. steel - and worth more too as steel wheels drag a vintage bicycle's price down. If I had it to do over though, I wouldn't choose the deep v'd rims as they only fit 700x28c tires. The frame can clear 700x32 the rims can't.
I'd go with non-v'd Velocity A23's or something. But alas, it's still an nice ride. A lovely one, too.
(Also, vintage Japanese steel bicycles are some of the lightest bikes out there? This is because of the high-quality thin-diameter tubing. Most modern bicycles can't come close to the quality of vintage steel. That's why people restore them. Some have them repainted and have the rear end - cold-set to accept modern cassettes. It's not a cheap process, but the amazing quality and lightness of these frames is unmatched. It's probably your heavy steel wheels that make the bike feel sluggish and or "roll-backwards-y"??)
Last edited by moderncyclista; 02-23-2013 at 11:17 AM.
"Things look different from the seat of a bike carrying a sleeping bag with a cold beer tucked inside." ~Jim Malusa
2009 Trek 520-Brooks B-17 Special in Antique Brown
2010 Surly Long Haul Trucker-Brooks B-17 Standard in Black
1983 Fuji Espree Single Speed-Brooks B17 British Racing Green