Well, after six months, or so, away from my bicycle stash, I managed to assemble the Torpado for its test rides. If satisfied with ride quality, I will strip it down, paint it powder blue with a white head tube, new decals and you will see those results in a month or two. For now, what I intend to ride tomorrow with different wheels and, of course, I will be replacing the air chain with a steel one...
As luck, or unconscious planning, would have it, I had everything for the bicycle, except a decent cottered crank set. A fellow forum member and real world friend was kind enough to give me the crank set - for something to be revealed sometime. Anyway, found more stuff than I needed, including the water bottle and the rim/spoke washers. Even stumbled across a set of Universal 39 brakes.