The bike ended up as a 42/16, and the ratio feels pretty good. I struggled a bit on the hills on the way in, but nothing that my legs wont get into shape for. The fact that I didnt have to worry about shifting was vary liberating.
Here is some pics of how she turned out. The black on white combo ended up looking pretty good, even though its going to be impossible to keep looking clean.
(what it looks like at night, with the front tire spinning)
If you want a better look at it, it is currently parked in front of the UP building downtown.