This was standing at the dump, ready to be plucked. The dump supervisor said, "Go ahead take it. If you don't like it, bring it back for your money back." So I figured what could I lose? The brakes worked, and the wheels were true.
I took it home, and the seatpost and stem moved fine. There was lots of grime and lack of lubrication, so I provided it everywhere around both places.
Replaced rear tube and chain. It's an 18-speed drivetrain with indexed rear and friction front. The shifters work very crappily, so I think it's best to replace them entirely with ratchet or friction shifters.
It's a nice old design, but it's heavy as heck, 35 lbs. I rode it up the road and back and on a little dirt. It's fun. It has Biopace rings which look funny but don't feel bad at all to pedal.
Gotta overhaul the BB, as it's very wobbly and surely dry inside.