I believe that the claimed weight was 21.5 lbs with tubulars, but a large frame like that would weigh a bit more.

It looks like nothing is original on that bike, so a restoration would be very expensive and not worth it IMHO. It's a perfect candidate for a fixie. The only braze on will be a cable stop on the chainstay. I saw a picture of a black one with track ends added that makes me want to build a Peugeot fixie even though I have no interest in riding one.