V-brake Canti Caliper conundrum

Not looked at wheels yet really. But I do have a hub brake and gear wheel sitting around on a parts bike. Was going to use that, yes will avoid chrome rims. Originally had derailleur. It is drilled for calipers too, so if I find hydro calipers at a good price that looks like a good idea? Also this has all the drive gubbins on the same side. Given that I am stripping most of that out and changing to a sealed square taper as opposed to cottered set up, it it worth investing in proper Two sided chainsets?
 
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If it helps here's a link to a restoration/ modernisation that I did on my Peugeot tandem in this flickr album.
There's a bit of description under the photos about what I did. Beware of French BB threading, although it was an easy job to rethread to English/ISO. I sold the turquoise tandem in the same album and the chap did a nice job, keeping more 'as is' and just rebuilding wheels with alloy rims, and adding brooks saddles. If you're interested I've still got a Stronglight 49D tandem chainset (pics in same album), which I'm thinking of selling.
 
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