I don't think the frame is full CrMo. The rear dropouts are stamped and it has a bottom end rear derailleur with claw hanger, which is typically indicative of hi-tensile steel. It wouldn't surprise me if only the seat tube is butted CrMo. All the components, are basic and while it does have aluminum rims, they are the older 27" style, so maybe the stem and safety levers aren't downgrades. Overall, I'm underwhelmed for a bicycle with a butted CrMo decal. Given the condition, I'm more in line with Randy.