This bike probably dates to the period when almost every bike came with steel wheels and cottered cranks, so you mustn't say (or even think) "but it has cottered cranks." Cottered cranks are no stigma on a pre-1970 bike. Similarly, Dunlop Special Lightweight rims (if that's what it has) are really very nice. The fenders, too, may be original. Could be a very nice bike.