I think zen's rush to bum-rap the Free Spirit name (and who among us doesn't enjoy that?) has betrayed his unfamiliarity with older European makes. Look closely at the pics; everything on the bike except the crankset and derailleurs screams 'Europe!'; the axle wing nuts, the stem, saddle and post, the dropouts are the same as on my Motobecane. '73 was about when Shimano came on the European scene, so that checks, too.
It probably is a nice little ride, even if it's not the pick of the litter. That early '60s J.C. Higgins/Puch bossman had last week was the same way; eccentric looks, but light and a solid handler.