yup 700C wheels will almost certainly go in but may leave you having to fit different brakes and not using a tyre much more than 25mm or so (with mudguards). The brake blocks come up 12.5mm or so.
Raleigh front forks of the time are often ~92mm OLN and the dropouts will easily accept an 8mm (5/16") axle only. Often a raised portion on each locknut of 3/8" dia acts a lawyer's lip; in the event that the front wheel is loose, it won't simply drop out. If your dropouts are like this, to fit a modern hub you will need to respace the hub and/or respace the forks, and file/grind the openings on the dropouts.
cheers