""Upon inspection it's just a varsity with paramount painted on the side, and it looked to have been in a serious accident because the back half is bond-o.""

Really....? Are we talking about the same yellow Paramount? I had a long conversation with the guy and he told me he bought it himself new in the late 60's for around $300. He told me it had chrome Nervex lugs and Campagnolo cranks!....That would be one hell of a Varsity! Honestly, I don't think we're talking about the same bike.....