I had a Carbolite Peugeot for several years and loved it. I sold it only because I kept finding bikes with 531 that hogged all my storage space. The red bike looks to be a UO-10 "Course" from the late 70s to early 80s and has aluminum rims, not steel. The bottom bracket, if French, is not that big or expensive a deal to replace if necessary. So . . . Try it out and see what you think.

My 1986 P4 Corbier, made up as I like it: