First, no i dont ride it that low, it was so it would fit in the bike lockers while i was away.
Secondly, it is in 100% working order, as i have been riding it for the past year or two replacing flats/tires etc. The only remaining (model name?) is special on the top tube and Piaggio on the seat tube, as well as the serial # on the bb which is DS16876.
The handlebars say SAKAE CUSTOM (japan) and ROAD CHAMPION. Most parts (derailleur's/shifters) are suntour, but i have no idea on the rims and hubs etc., other than that the bike is basically stock. I would go take pics, but im not at home at the moment. i think its around a 53cm frame.
thanks for the input/help by the way!