I haven't seen one of these that hasn't been Italian threaded, so both cups should be right hand thread.

All the Torpado Luxe that I've seen have been fully chromed under the paint. Many used a translucent paint that showed the underlying chrome. There were also some opaque colours, such as white and yellow. though I can't remember seeing an orange one like yours. I recall spending a weekend helping my friend strip the yellow paint off his Torpado to expose the chrome. I can see the chrome exposed by the paint chips on the stays and forks but the chip near the shift levers looks like it's rusted steel?

I checked my reference material and the Valentino Extra was introduced for the 1969 model year, so that increases the possible timeline just a bit.

I also just noticed that the rear wheel isn't fully seated in the derailleur claw. This makes the rear triangle appear tighter than it actually is. It has me wondering if the wheels might be OEM and that the earlier versions used the Italian 28' size, before switching to 27", later in the boom. The hubs and wingnuts do look OEM. What is the rim brand?

Proper reproduction Universal brake hoods are available. They used to be $20, but that was several years ago. Search the forum and you should be able to come up with the e-mail address.