Looks good from here. They were good bikes. If anything does not work well, disregard those who say “they are just like that”.
Most bike boom Peugeots were assembled by minimum wage high school or college students who worked basically without supervision. For many years I thought Oscar Wastyn and Al Stiller had to have some sort of old friends arrangement with the factory because their Peugeots were head and shoulders above anyone else’s. Nope, same bikes from Franklin Imports. But assembled by adult mechanics. Go over your bike thoroughly.
Particularly the brakes work extremely well. 70 years later at least three mfrs make copies of those brakes. Typically Mafac brakes make lots of noise and do little to stop the bike. Set them up as intended and they are quite smooth and powerful.
Many bikes and especially French bikes from that era have very short seatposts. Before raising the saddle take the post all the way out and see how much you have to work with.
What jamesdak said about Simplex derailleurs. They work very well. If not, get to work. Be gentle with the small screws.
Should be a rewarding bike and a wonderful experience. When it doesn’t seem that way be ready to seek help.