Originally Posted by
Aubergine
indeed not. I had a P4 from 1986 or so, same Carbolite frame as the OP's bike. I bought it in a rather beat up condition so built it up with decent wheels and a Spécialités TA triple crank. Wonderful bike, very pleasant to ride. Peugeot and the other French makers generally knew how to make a bike that rode well with low end steel.

That bike in Aubergine's post looks like the Pug I wrecked circa 79' or so.
Stamped drop-outs, but aluminum cranks. It was very much a bare bones bike, with not a lot in the way of weight added to it straight from the factory.
It was very fast (the only faster and lighter one in personal experience is the Moto Super Sprint) and handled the extremely rough roads on my route to work with aplomb.
If Kool-stop pads had been available back then, I could have possibly avoided the wreck.
I wouldn't worry about any Peugeot steel, and ride the snot out of it.
-D.S.