I have no idea. I don't, to this point in time, do well in climbing-heavy races anyway, but if I were climbing Mt. Washington I would be slower on this bike than one 4 lbs lighter. Do you deny this?

I also don't know if I would lose many spots in crits if I were racing on that 40 lb Schwinn Varsity. I did some races on a 23 lb 80's road bike a few years back, with downtube shifters. I didn't do too badly. But I prefer my current race bike both to that 80's roadie and to the Schwinn. It's certainly faster than both of them, but not by so much that I would do substantially worse on either.

But you still haven't answered my question: why are you riding a 20 lb modern road bike instead of a 40 lb Schwinn Varsity? You're not any less likely to get dropped on the newer, fancier bike and it isn't going to help your Strava times anyway, so why waste the money?