Tue Apr 28, 2009 10:43 am by Gemm
I think you need to think of which is the largest gear by chain length you are ever going to use (if that is a 98.4" 51/14 then so be it), fit wheel into dropouts almost to the limit forwards, fit chain. If it is too long for your other common applications, take a link or two out.
But Luke is correct the overall dropout length is the determining factor, old frames like yours have shorter dropouts when compared to something like a BT! So you almost certainly need two chains (or an extra link setup) to run all your possible combinations. An extra link (or two pairs of links) are handy to have anyway, just get some 'fish' type old-school connectors and whatever is left over from your new chain to make them.
And remember, the fish always swim forwards, kids!

the ideal number of bikes is one more than you currently have