Wow, nice - and if a used team bike, what a cool score!

I'm at a loss to explain either the hole under the stay or that weird blob on the stay near the BB shell. I wouldn't worry too much about the surface rust on the chrome, tho. The rest of the paint looks pretty good, so it's just a cosmetic thing.

Don't know if I'd ride it with the hole in the stay. I'd hate to be moving along smartly if/when the stay decided to maybe fold on me!

DD