• Well done on getting a Royal, they're nice bikes (but I'm biased).

    TBH, with Shimano groupsets anything with minimal plastic content is at least worth trying. I ran a 90's MTB with a fairly low-end groupset for a long time and it was fine. Sure, it may not be the lightest but since it's mostly alloy it's not going to fall to bits on you. If you have downtube or bar-end shifters then you've avoided the problem of unreliable brifters in any case so shifting shouldn't be an issue. So, assuming it's in decent condition, I'd say at least try the Exage stuff (which from memory is fine) rather than assume it needs replacing, especially since the triple will be good for the hills of the c2c

    The brakes are probably more of an issue if you're doing the c2c. If they're Weinmann centre-pulls like this then they are servicable, if a bit spongy. I'd highly recommend ugrading to aero-brake levers (like this) if you don't already have them and putting on some good brake pads. Side pull calipers will be an even better solution, but long-drop ones (which you may well need) can be pricey and you may be fine with the centre-pulls if you're not carrying too much weight.

    Edit: velobase.com is useful, try it.

    Edit#2: I'm not sure if your Royal will have eyelets for mounting a pannier rack. P-clips may be your friend if you're planning to carry lots of gear.

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