In my, not always, humble opinion, the seat post is dangerously high. Damage to the seat post lug is a definite, unless that post is longer than I think it to be. To that add, that should the post actually stretch the lug, and this is not an uncommon result of a insufficiently inserted post, a crash might well accompany the failure of the lug to secure the post.

Anyway, none of my business, but I would hate to see a fellow VB (vintage bicyclist) experience difficulty in such a situation.

All that said, lovely bike (love the color) and I would give my left te$ticle for the crank set, as the one on my Jamaica Bianchi bought the farm this year.