A neighbor received as a gift a 1970 Competition. It was given to her by a man turning 70, the original owner who is unable to ride. I'm not sure how long it was sitting in the garage but with new tires/tubes and brake pads, plus a little TLC we got it running safely. Here is a link to the pics from today when I first saw this 40+ year old machine (serial # = E9169).

https://plus.google.com/photos/11242...CPbepqf8yrmqHA

There have been some changes over the years.
Wheels are 27", 36 spoke Araya box section rims (from the early 80s - I think) on Shimano hubs.
Replacement Raleigh fork with Campy dropouts - no detectable frame damage at headtube junctures.
Shimano FD & RD with Arabesque shifters, Sugino crank, wide range freewheel.
Stem is not original.
Inner chainring is now a Biopace ring (but not the big chainring)

Chrome is good, minimal surface rust, paint is rough but not too bad given the age. Black should be the easiest to touch-up.

Enjoy the pics. I had not seen this Raleigh headbadge before.

edit = rear dropouts are Zeus.
I have viewed several of the catalogs, but if anyone knows the original build it would be of interest to me.
This is the new owner's first road bike.