fyi, more likely a Magistroni crank branded Lygie with Simplex chainrings. And my vote, fwiw, is that the wheels are not original.
I'm pretty sure the hubs are original. They are Record "No Record" hubs with closed "C" skewers that should align with the late 50's /early 60's. None of this is visible in the pictures, but I stopped by Cap'n house over the weekend to check out the bike. I couldn't resist not swinging by to see the bike and talk to @cap'njohny about it.
Mike