Paint job looks in great shape. What does the tubing sticker say? I picked up a 1984 Trek 610 last year; it's a great riding bike. Then I found a 1978 Trek TX900 this year and I couldn't resist.

We should start a borg thread . .

I'm not quite sure about the Italian bottom bracket question; looks like you have a working bottom bracket. Are you trying to figure out whether your existing cranks will work with the BB on the bike?