What do you guys think about a near mint condition 84 panasonic touring deluxe?
http://bellingham.craigslist.org/bik/2411020149.html

It seems to have a 45 cm chainstay. Will it be overkill for a randonneur? Worth the money for my project?

A Raleigh International is still at the top of my list but i doubt i'll find an affordable one any time soon.