Thank you for your insight and advice. I appreciate it. The seat tube is 23 1/2" center to center and the top tube is 22 1/2" center to center. It may be a bit large for me, I'm just six feet tall but I knew that before I looked at it, I've another bike the same size and it rides okay for me and most importantly, I was looking to get a cool project regardless of what I end up doing with it.

The bike originally was sold by Hans Ohrt Bikes in Beverly Hills, CA, there's part of their label still on the bike. Mr. Ohrt was a racer and coach of the U.S. Olympic cycling team. I communicated with another LBS in LA regarding Mr. Ohrt and there's wonderful information out there about him and here in the forum and it's all pretty fascinating for me anyway.

I also communicated with Steve Maas who wrote the Carlton Catalina Restoration project and asked him about the original components his came with and he indicated the Huret Avitt deraileur and Williams cranks are not so great and recommended I try do something more modern or at least better. So I'm looking for a suitable donor bike locally and I'm sure I'll find suitable components one way or the other. Anyway, thanks again for your advice. Here are some photos.