Yeah, I've been riding it today while my draft is down. In some ways it's a lot nicer then I thought. The Cypress has a cro-moly frame and rigid forks. I thought they were aluminum with suspended forks.
Likely it's an older model but I think it's worth upgrading and will make a very nice commuter/grocery getter/maybe even rondo bike. It's got all the braze ons for fenders and racks. Right now though it needs some serious work.