This is the new back wheel and the bike cleaned ready for the Dun Run. Just need to bolt the lights on and service the pedals, which are developing slight play now (they've never been apart since new).
The rear rim is a Velocity Deep V, because that's about the only narrow one available with 40 holes. Built 4-cross (or is it cross-4?) with Sapim Race spokes.
The threaded driver takes a Surly track sprocket nicely. That's an original two-piece indicator, and the plastic protector is important because they're £15 each. Secondhand. Out of interest, the missing paint shows how far the axle needs to move when a chain goes from new to having a 1% stretch.
It took a lot of polishing to get the original alloy shell back to factory condition. Brass washers pack out the modern long spoke elbows. As you can see, it's a Sturmey-Archer AM made in March 1951. The internal mechanism is proper AM medium-ratio and contemporary with the shell, but not actually from the same hub - one of the hazards of eBay is that the AM hub you've just bought may contain bog-standard AW innards, fit only for the spares box
It runs 41 x 18, which gives a 60" normal gear, 52" low gear and 69" high gear to cope with most things. Only Smalldean Lane on the FNRttS has ever defeated it.