1984 Schwinn Traveler

[nfmisso]

With the moderate hills in your area, and your knees; I would suggest the following:

* road triple crankset (requires new BB and new front derailleur) like this:
http://www.amazon.com/Sunlite-Alloy-Triple-Crankset-170x52/dp/B006429C3E/

* new rear derailleur; like this one: http://www.amazon.com/Shimano-RD-M410-Alivio-Derailleur-8-Speed/dp/B00113HAYO/

* new "8 speed" need to match the derailleur.

* IRD 13-24 7 speed freewheel - closer ratios for your knees; while the 30T granny cog up front provides a bailout for really steep hills.