First thanks to all who contributed. We're going to clean, tune and sell this bike to help pay our expenses (check our website), so our main purpose was to get some idea of what brand it is for advertising.

So, here's a few more pictures. The rear dropouts marked Tange TR. BB shell. Serial number, pedal and bar tape with pattern (might match original?), serial number. We know that components may have been switched but what we see is consistent with a repainted 1986 Panasonic. The Shimano derailleur is a RD-6208, introduced in 1986. We'll ask $200-$250 for it.

Thanks again,