>>1144556Step #2:
Now repair/replace whatever needs to be done:
* Cracked frameset is kind of a dealbreaker. :-(
* If the headset is loose or doesn't turn smoothly it can be dismantled, cleaned, greased, and reassembled/adjusted; see if that fixes it, otherwise replace headset bearings.
* Loose or rough wheelbearings may be able to be disassembled/cleaned/lubed/adjusted, but maybe not. If not, you need new wheel(s).
* Truing of rims is trivial. If you know how, great, otherwise small charge at a bike shop.
* Tires and tubes are not expensive; replace rather than re-use if they're questionable.
* Riding around on an excessively worn drivetrain can lead to a catastropic failure of the drivetrain (ever see a bike with the rear derailleur wrapped around the rear axle?). Clean and re-use if not worn excessively, replace otherwise. This is important.
* If the cranks don't turn smoothly or are loose, what you need to do depends on the type of bottom bracket bearing. Some can be disassembled/cleaned/greased/reassembled/adjusted and they're fine. Cartridge types can't be serviced and need to be replaced. Procedures will all depend on the type or BB bearing.
* Replace any worn cables, inner and outer. These are not expensive, I'd recommend replacing all of them, shift and brake cables. You may want to buy a cable cutter to make cutting the new housings to length. See the Park Tool website for tutorials on installing cables.
* You may or may not want a new saddle, the one that's on there is too padded to be comfortable for more than an hour of riding (yes, I know, it's very counterintuitive, isn't it?). At any rate, if the padding is broken down and/or the baseplate is cracked anywhere or the rails look bent, replace the saddle. You don't want it breaking on you while you're riding.
