...I had to take it home. I was on my way to the plumbing supply house this morning to pick up a part for the sprinkler system when I passed this pawn shop with a drop-bar bike sitting outside. I stopped to look and it was a late '80's Panasonic PT-3500 touring model. It appears to be in excellent condition - the chain is rusty and the tires flat but otherwise everything seems to be there, paint and decals are good. Frame is lugged, double-butted Tange 1000 CrMo with Mangaloy fork, Shimano Deore group, triple crank, cantilever brakes. Has a nice Blackburn rack and a Brooks saddle. Like most Japanese bikes it's a bit aesthetically challenged but it seems like a nice mid-range touring rig of the period and it's just my size. Cost me $30.
And...seat post and stem are NOT stuck and it's 6-speed index shifting. Didn't know there was such a thing. Frame spacing is 126mm. Serial number is 8C04545 so it appears to be an '88 model.