I have one. Its not like the one mentioned by the previous poster, though. It has Suntour components and rides very well. I bought it in 1979 or 80 and have been very happy with it-- a very nice ride. Made in Japan.
The Gran Sport and Competition were the same bike in alternate years from about 1970-1973, in white and blue then the gran sport became a touring bike with basically peugeot PX-10 (mid-range) components - 531 missing from one of the stays - still white and baby blue (the carlton colors.) I have one and its an awesome reynolds 531 ride.
The problem is, Raleigh ripped off the name and started making clunky 2030 carbon steel bikes in Japan / Asia by this name in the late 1970's they were junk, unfortunately. in colors like red and black.