I got my funky 1974 Sears Free Spirit a couple of years ago, and have been riding it as a fixed geat commuter for the past year or so. Always wondered if it would have a more sprightly ride if it were shorter than its 41" or 42" (104 - 107 cm) wheelbase.
Be careful what you wish for: you might get it. I now have a 39" WB Sears Free Spirit. Unfortunately, it comes with a near-vertical head angle, buckling of the top and down tubes, and still has the 18"/46 cm chain stays. That and the completely unbent fork reassure me that this reeally was 531DB, just like the stickers say.
It seems that the seasonal park ranger who came around my side of the blind corner on the Bike Path was 6' 4", a rower, and outweighed me by 25# (11 kilo or so). It wasn't quite head-on (but almost), and neither of us was going as much as 15 mph, I think. We both got up off the pavement, counted scrapes, and called it a draw. :-) I am grateful that neither of us seems to have been hurt more than that.
Now, there are several "morals" that can be drawn from this tale (he and I already have notes on how to re-engineer the intersection), but I want to focus on the vintage side. The number of vintage bikes will inexorably decline. I own them to ride them and "work" on them, and if one had to be sacrificed, this was not a bad choice. That's why I used it for commuting, locking it outside on the street in downtown DC. But, it's additional discouragement from taking the really cherished bikes out in situations where I have less control than I like.
And, as a practical matter that has occasionally come up before on this list, establishing the value of a demolished or stolen vintage bike will be more art than science. It didn't cost much, it isn't worth a commercial repair and repaint, but a comparable replacement frame will cost some money and time.
Ah, and I will ask the responsible party to replace the helmet, too. Don't leave home without yours, and replace after each of your crashes. :-)
harvey sachs
mcLean VA