Looks like a PO did away with the cycloid version of your big ring. See this link. Regarding the arrows, these are interestingly different than bio-pace rings. I just checked a bio-pace triple I have, and they have a little protruding "key" between the bolt holes that is to be lined up behind the crank arm. Someone probably knows better than I do, but logic would dictate here that since the arrow is on a bolt hole (rather than between two bolt holes), that it should be placed on the bolt hole that is in line with the crank arm.

Since this might be your next question (I've asked it myself): http://www.bikeforums.net/showthread...Can-I-mix-them

Good luck with your rebuild. I have a buddy who LOVES his Nishiki Cresta, and I like anything with the phrase "GT" in it--esp. bicycles and cars! Like to see a photo when it's all back together.