This particular New World has lightened alloy hubs and Schwinn Stainless S6 rims from an early 1950s Schwinn Continental 3-speed.
It's a massive upgrade- much lighter and more responsive than plain steel Schwinn wheels. Even the light set is French aluminum - an Ideal brand headlamp and Soubitez generator set.
Both of these bikes have their own characters, and the Schwinn is considerably faster and more agile.
The Hercules has the "more traditional" character to it - which is about right for a rod brake English roadster.