Singlespeed & Fixed Gear - Frame Buying Dilema(i spelled dilema wrong)[im illiterate]

Ok. so ive been on a frantic search for a nice frame to convert to my first fixie in the small town of norman , ok. I recently just confessed to my LBS my paril and he told me he may have one for me. We went to the back and lo and behold was a beautiful sixties italian road frame with extremely elaborate lugs with stars and other elaborate shapes etched in. My jaw dropped

-now the dilema.... This bike is black from surviving a fire in the bike shop in 1999. The LBS told me he had no idea if it was still structually safe. I checked the welds and they looked great. No rust. Just looks like the paint was burned orsomething...

- So what exactly do you all think. Is it an ok bet or am i just beggin for this bike to fall apart in traffic. The frame brand started with a p .. im not good with names but i am still impressed with the lug work its amazing...

-So is it safe? Its also just gonna be practically given to me. If i order my parts for the build through him he will just let me have it.

first thing: PICS MAN!
second thing: i thhink that if there is paint still on the frame it probably didn't get hot enough to damage the brazing or the tubing.
third thing: find someone who actually has some science to back them up and ask them.
fourth thing: PICS! especially of the lugs, the bottom of the bb shell, and anything else that looks interesting.

What bike shop? I'm also originally from Norman, you might see me around in the middle of March (gold fugi with nashbar special white regal saddle).

its buchanon bicycles. on campus corner. its deffinatly the best. im going back to the shop tomorrow. ill try to get pics.

Lugged.

It didn't get hot enough to melt the solder and it didn't visibly warp.

Pinarello? uh...Peugeot but that ain't Itai.

Pics!

here are some pics. after consulting with a few welders i know they also think it is safe. so im gonna go for it. it isnt costing much anyway.

pic 1 shows star and curvy heart..

pic 2 is another star

pic 3 is a blurry picture that actually features the name piccolo or piccala and an elaborate heart again.

pic 4 is the bottom of th bottom bracket. the circle thingy above the wholes is actually another heart, different kind though.

So all of the shapes are hearts and stars and they are all over every lug.

paint is in bad shape but i can have it powdercoated any color. suggestions?

let me know what you think and if its worth the little bit ill be investing in building it up.

I love that. I would totally build it up, and I would totally leave the frame alone and ride it as is.

yeah it actually is beautiful. the fire makes it look like it fades from red to brown flawlessly haha

There's a chance that the heat has annealed the metal and ruined the heat treating, but since it's steel, that's not such a huge deal. It'll just make t more likely to bend. Goferit!

PS: those are some truly terrible photos. The camera pretty much universally focused on anything other thena the frame. ;)

Yeah, but there are some great leaf/hand shots, and in #3 you can see the first growth of spring. What more could you ask for?? :p

The maker's name is probably marked on the seat stay. It's just so hard to tell from your photos.
starting with "S"?

sorry i'll get more info. im very possibly the worst pic taker in the world. ever.

I wuold take it to a frame builder or anyone who can tell is the frame is still aligned (sp? sorry, it's early). If she is still aligned then I would assume it's fine. Nice find, one more reason to dig around in the back of shops. :)

Looks like a keeper to me. Manufacturers do not bother with custom / proprietory lugs on pos frames.

Doesn't Guerciotti use stars on their lugs? The Classic/Vintage forum guys would probably know.