Very nice! The crankset looks like the 1980 Ofmega CX which came with my Bianchi, and the rear derailleur might be a Campagnolo 980 (reportedly so named because of its introduction date). You may be able to find date codes on the cranks, the derailleurs, or even the brake calipers.
For safety's sake, swap in some salmon KoolStop brake pads and low-compression brake cable housings.
If your wife has any trouble on hills, you can probably go to a slightly larger freewheel, perhaps up to 28T. The inner chainring is already at minimum size for your bolt circle diameter (144mm?), but if you swap in a compact double with a 110mm BCD, you could drop as low as 34T in front.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069
Last edited by John E; 09-21-08 at 07:18 AM.