If I may, I would like to draw your attention to one important detail regarding drop-outs. The photos show that the original conical shape of the front and rear fork tube ends with drop-outs brazed in them was subsequently modified with an abrasive disc. The bullet point ends were removed together with the brazing alloy, leaving quite deep marks (undercuts) on the surface of the drop-outs. This action (strange and unreasonable from the professional point of view) can lead to a weakening of the place of drop-out installation and a decrease in the strength of the drop-out itself.
I urge you to keep this in mind if you intend to devote time and money to the restoration of this frame.