I just scored an 88 Pinarello Treviso 'cross frame on Ebay as a commuter project. It has 130mm rear dropout spacing, and I'm assuming 100mm at the fork. If I use Shimano bits, what am I looking for in hubs & cassettes- 7/8 speed with 130 MTB hubs? Thanks for any advice; any more info on the Pinarello would be welcome too. All I know is that I like the lugged steel and lime green paint.

MTB hubs (at least anything within the last 15+ years) are 135mm; with 130 spacing, you can use any 7/8/9/10sp road hub, and any (road/MTB) cassette you like. There's no reason a good (105 or above) road hub can't stand up to use on a 'cross bike.

Although I can't speak form personal experience, it's my understnading that you can remove the bearing covers on some hubs (like surly track hubs) so that a 135 will fit in a 130. Like I said, never done it...but something to look into possibly.

MTB hubs (at least anything within the last 15+ years) are 135mm; with 130 spacing, you can use any 7/8/9/10sp road hub, and any (road/MTB) cassette you like. There's no reason a good (105 or above) road hub can't stand up to use on a 'cross bike.

Most Shimano 7 speed road stuff is 126mm rear spacing. It's fairly easy to space it out to 130 though with a longer axle and a few spacers. 8/9/10 speed road is all 130mm.

Most Shimano 7 speed road stuff is 126mm rear spacing.

Oops! My bad--you're absolutely right. Must've been over-caffeinated when I was typing my response.