Bavarese, Nice bike.

If it was mine, I'd change the crankset, replace the water bottle cage, and remove whatever is attached to the fork (is that a mechanical odometer?), and to the seatstay. Finally, I'd change out the cable clips on the top tube for some chromed ones. Unless the paint is far worse than your pictures make it appear, I'd definitely leave that alone.

To my eye, it looks more like a "sports" style of bike than a "touring" model, but I suppose you could build it up as either without it looking "wrong".

Hope it rides as nice as one would think a Bianchi would.