All I can say is as a poor student back then, forking the money out for one made me feel violated. The dealer would not cancel the order (I managed to figure out I didn't want it before it arrived), and I couldn't afford the extra $150 to upgrade to a Paramount, as that was a lot of money back then. I was never so happy as when I got my Raleigh International < 1 year later. $139 more... 10x the bike. Just trying to make sure that the OP understood that this is not a lightweight bike which was competitive with other similarly priced models at the time, cuz it wasn't. The internet and the ability to do accurate research makes things much different now than they were then. Sure, it rode smooth I guess, but not responsive at all, so it may be what someone is looking for. And it felt like 34 lbs.
And here are some Varsities (chicago):
http://chicago.craigslist.org/nwc/bik/1900104337.html
http://chicago.craigslist.org/sox/bik/1896818818.html