The rear wheel on the Trek 700 was pretty bent up when I bought it. I took it down to the local bike shop, but they said the rim was bent beyond repair. With nothing to lose, I played with it a little, loosening the spokes, and tweaking the rim around, and got it a little straighter. I want to get a truing stand, and see if I can get it relatively straight. Or maybe I will buy a new rim, and rebuild the wheel. It will be a learning process.
Meanwhile, I want to get the Trek 700 up and running. So I pulled the wheel off the Specialized Crossroads that I bought as a parts bike. It was also a 700c wheel. But Crossroads wheel had a 6 speed cassette, and the Trek wheel had a 7 speed cassette. So the Trek wheel had a longer axle. No problem, I would just swap the axles. I removed the axles, bushings, cones, and bearings from both wheels. The Specialized wheel was filthy, so I washed it in water and dish washing liquid. Then I cleaned all of the parts in paint thinner. I spread a bead of lithium grease in the bearing runs, and then put the wheels back together, except swapping the axles, bushings and cones between the wheels. I reinstalled the cassettes. Now the straight wheel that came from the Crossroads has the 7 speed cassette and fits perfectly on the Trek 700.
Tomorrow night I want to overhaul the front wheels. I am not sure if I will swap those wheels. The front wheels of both bikes are straight. The rim from the Specialized is stamp with the brand name Araya. The wheel from the Trek 700 had no label. So I am not sure if one wheel is better than the other, or if it is a wash.
The chain that was on the Trek was really rusty. I was going to clean it up, but after seeing that I can buy a brand new chain for under $10, I will just replace it.
Not sure about the tires yet. The tires that were on the Trek look kind of trashed. The tread is good (kind of knobbys), but the sidewalls look like they were ridden on with flat tires. The tires from the Specialized were more like road tires.