Joined: Apr 2006
Posts: 4,035
Likes: 922
From: Washington County, Vermont, USA
Bikes: 1966 Dawes Double Blue, 1976 Raleigh Gran Sport, 1975 Raleigh Sprite 27, 1980 Univega Viva Sport, 1971 Gitane Tour de France, 1984 Lotus Classique, 1976 Motobecane Grand Record
Yeah, agree with what others have said about that being a well-done derailleur-hanger modification. The worst is when the whole hanger just gets haggled off with a hacksaw.
Even though a butchered derailleur hanger is a terrible thing, there's an upside to taking possession of a bike has already been despoiled that way--it lets you use any derailleur you want without bearing any moral stigma.