A well-preserved piece of history, but if you want something like this to actually use, get a French bike. Two data points:

• the generator is on the wrong side of the seat stays. If the bolt slips, it'll end up in your spokes. It should be in front of the stay (or fork leg, for that matter)
• the rear light will be obscured by even the thinnest leaflet on your rack. It should be on the fender

But, for $10 it's a nice conversation piece.