Paramount P15-9 _ 1971 (update: May 15 2012)
A few significant recent changes since the last full profile of this bike.
Gone now is the original Campagnolo Triple crankset, replaced here with a NR/SR Double (42-52t). I decided that I seldom used the smaller (36t) inner chainring - the only size offered - and always found shifting on the Triple crankset a bit of a nuisance with the standard Record front derailleur. The last thing I need on old Campagnolo shifters is even MORE of the obligatory "shift-then-trim" gear changes. The outer chainring is a factory drilled Sugino from the 1970s... another minor sin against Correctness, but I had rediscovered the long forgotten new (unused) chainring in my stash and wanted to finally put it to good use.
The main visual change seen here is the use of Fizik microtex handlebar wrap in a very closely matching yellow color. From 1971 Schwinn catalog photos, matching bar tape was common on the Paramount, although it was most likely Hunt-Wilde plastic tape. This feel of this wrap is more like a slightly cushioned leather. It has perforations which I assume are to aid breatheability. Not nearly as thick or plush as many cork or gel based modern tapes, but the tapered rubber central base is definitely more cushioned than simple cotton bar tape. Unlike cork or cotton tape, this seems very durable and it is also easy to clean. Lighter colored cotton tapes are always quickly soiled (... at least that seems the case with my apparently chronically dirty hands or gloves), so I'd usually chosen black cotton as my default choice for most bikes.