Not quite. The Iacopini crankset may well be a Gipiemme, but it’s not the one shown - that on the Iacopini has slotted spider arms and continuous fluting along the crankarm, not broken by the brand name.

That Iacopini is a classic bitzer - crankset, stem and seatpost surely original but Shimano rear changer, Suntour front and Aero Gran Compe(?) brakes with newer Campagnolo levers perhaps not. Classic mix of original build, upgrades and parts bin…!