Norm,
You bring up some good points. I garnered lots of strange looks riding around the streets of Pittsburgh, PA on a "10 speed" in the mid 60s. I was in my 20s and bikes were considered kid's toys.
The Bike Boom of the 70s changed a lot of attitudes towards cycling. I agree with you about the bike being just a piece of exercise equipment for many of today's riders.
I attribute it to kids who grew up with plastic big wheels vs. those of us who had real steel tricycles! ;-)
Chas. Colerich Oakland, CA
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