Earlier this year I bought a bike off of craigslist. Its a '70's(?) light weight racing frameset. Its a Guerciotti. I got it for about $300. The guy I bought it from said that he had bought it from a local bike shop. And apparently they had had the frame, and restored it with NOS (or close to) components.

But I have no idea: how accurate a restoration it was; how old the frame is; where it was made; what it was made for; why it has cheap paint; and how should I use it?

Its roughly a 58cm frame, blue-ish green (more seafoam than celeste). Cheap paint, its bubbly everywhere and it has no flashy decals. It says GUERCIOTTI in big black fancy font (which is prone to chipping) on the downtube. And it has a painted G on the headtube. And that's it! No colours or other decals. The only way I know for sure its a Guerciotti is because its pantographed on the fork and seat stays. Oh, and it also has a giant star cut out of the bottom bracket (a Guerciotti trademark I read).
I don't recall if it has anything else stamped on the BB. I'll check later.

The shop had equipped it with an old Shimano 600 drivetrain, Cinelli bars, nice old mavic wheels, modolo brakes and a well used Bernard Hinault Turbo unicanitor saddle.

Regardless if it was an accurate restoration, those are still not bad components.

But the biggest thing I want to know, is what this bike was made for? It has horizontal track dropouts with a derailleur hanger, a nearly straight fork and no other braze-ons.

If anyone has any knowledge of what I'm talking about, I'm really curious.
Also, what should I do with this bike and how nice is it really?

http://velospace.org/files/icycle1.jpg
http://velospace.org/files/icycle2.jpg
http://velospace.org/files/icycle3.jpg

PS. Everyone on velospace tells me to turn it into a full fledged track bike. I'm kind of hesitant..