Her is a quick update. Since I am off today I stripped the bike down to the frame. Everything is in good operating condition. The crank is still in the frame because I do not have a socket on hand that will fit inside the crank hole to take out the bolt. I will have to go get one somewhere. Everything appears to match the stock bike brochure except the forks. They are Tange. There is no damage to the frame, just scratches and rub marks. Is there somewhere I can get the matching color of paint so I can touch up the frame?
My intentions are to clean and touch up the frame, clean all the components, replace tubes and tires, and replace bar tape. I will also replace chain.
The only other thing I found off was the rear derailer is bent just a touch on the gear bracket, so the gears are off just a little. Would it be ok to try and straighten this or should I leave it alone as it really does not hinder the function of the derailer?