Your bike looks to be in really good shape. I have a 1973 Road Racer and the thing rides sweet. I also bought an old Fuji Palisade for my brother and the bike was nice. Those old Valite Fuji's are really nice bikes. Ride it, enjoy it and take good care of it. After removing a frozen/rusted-in seatpost on a bike... make sure you grease your seatpost