It may be a Peerless 500; those I believe were offered in 3 speed, and the case is essentially identical to the 700, however there are some slight variations in the two. There's a thread around here someplace comparing the 700 to the 500, where I offered pictures of both side by side. The 500 is a solid transmission, however I don't believe parts are available for those any longer, and internally there are a substantial number of differences in the 500 and 700 internally. As best I recall the ID tag on the 500 was riveted on the side of the case in place of normal location on the 700s.

Somewhere way back in time, Peerless did make a 700 3 speed. Question has arisen on the board here before, and in discussion a parts diagram was offered on that model. They do not however show up on the regular list of Peerless 700s that we normally reference herein. That one instance is the only place I've seen reference material on them.

Likewise, some model 700s may have incorporated spacers to alter the typical Peerless 5 speed to run only 3 speeds, by OEM request. The only way to tell there would be to disassemble and clean it up to see. 

If you do have one of the 700 3 speeds, it would be cool to see pictures of the internal components to see how they compare to the regular 700.   

Not a direct swap, you'll have to do some machine work to fit the bearings in.

Not all capitals though... Just insert them where appropriate, as a matter of proper application of grammatical correctness in use of the English language!

We do not text arround here, convey your thoughts in structured sentence form, so we don't all have to try and translate them.

Nope it's not, it was designed for that piston...
Yep...it is strong enough...
Nope you don't have to worry...
Just order it with the rod...
Yep it'll work with stock crank.

Well.... actually no, it should look like the one above. Not sure where you're picking your code up in Photobucket Mike.

When you load the images, scroll down a little and check the little box beneath each picture you want to post. Then scroll to the bottom of the page, and there is a "Generate HTML and Image Code" button, way over on the right. Click that!

Then you want to go down to the box just below where it says... "IMG clickable thumbnails for message boards - recommended" and simply left click in the box to copy. Then come back here and paste it to your post.

In that fashion Photobucket generates the thumbnailed image to play here, allowing for much smaller file size, and thus easier page loads for those on dial-up. And, once you click on it, the image plays in full resolution, whatever size that may be.

 
 

Forgot to include the link to that thread... Sorry about that!!

http://www.heymow.com/index.php?topic=2346.0

Yeah, y'all have fun... now you can all have your very own personal copy and don't have to look it up on the web!!