It's in great shape other than the abovementioned.. The frame is in great shape. It is a very cool looking bike. I'd probably put new wheels on it and pedals. I'm sure whoever got it would want to update it a bit. I'll look at it tomorrow to figure out the frame size, but I am thinking it's around a 22.5" frame. It would probably be a cm measurement, though.. Mostly flat sidewalk areas around here and I am pretty much into the old Schwinn cruiser I just restored right now, I enjoy just casually riding around mostly, and my lower back is happier when I'm in a more upright position on a bike.
I was toying with the idea of putting a different set of handlebars on it so I could sit more upright, but this frame may be too large for me. I have to stand on tiptoes when standing over the bar.