Joined: Nov 2006
Posts: 19,810
Likes: 597
From: NJ, NYC, LI
Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
I don't think OP got burned at all. If I needed a good bike, I'd be thrilled to pick that up for $75. It needs a lot of work, and I respect that OP doesn't want to do it. Fine: it's not the bike for him; but I think it has plenty of potential.