The threads are already borked, hence the repair BB, but I'm going to cover them anyway. Rag and / or electrical tape, just like I used to protect the granny ring from the hacksaw while I was failing to remove the crankarm.
I don't have to remove much metal. It's just the extra width of the threadless cartidge that makes it hit. The UN-72 is apparently just skinny enough that he was able to hork it in there. (A feat of hackery that still fills me with horrified awe.)
And, while it doesn't say much for Peugeot Q/C, a cup-n-cone BB wouldn't come close to being a problem. (Other than Phil, maybe, were there any cartridge bottom brackets in 1981?) So, sloppy, but good enough to sell.
--Shannon