merckx":297lkvab said:give it a crack, may as well. try and put the skinniest slicks you can possibly find on it, and at the very least, a road cluster, ie 12-23 or so. ideally, two chainrings somewhat in the vicinity of 39 / 53 are also going to be a big help.
putting drops on it would be fine, but then you'll need levers and shifters, Shimano STI would be the way to go. bear in mind they generally don't work too well with cantilever brakes. they do work, just not all that well.
it won't be as fast or as easy to pedal as a normal road bike, but it will be close.
re: STIs and cantis, IME they are crap with my Tektro frog legs and really nice with old skool M650