Welcome! And very nice looking bike, I might add. You can get a cheap Shimano cartridge bottom bracket for $20 or so and it should last quite a while. I've been using the same one in my commuter bike for nearly a year and a half and it's still as smooth as it's always been, even after regular riding in hard rain and actually being submerged once.
Of course they're not the smoothest bearings in the world, but for the price they are great for a bike that you don't want to have to tinker with very often. A good old cup & cone BB is great too if you enjoy repacking bearings occasionally (which I do!). C&V is a great forum and I've learned an astonishing amount from the many knowledgeable people here.