That Guerciotti is a top of the line vintage Italian racing bike. From the 1 picture, it appears to be from the late '80s or early 90's. Columbus SLX was some of the best Italian tubing of its time. Dura-ace was and is the top of the line Shimano groupset.
The one downside to a vintage bike like that is the downtube shifters. Some people don't like the hassle of reaching down to shift. If they are the older non indexed type it is harder to hit the right gear every time. However, people raced these for years and it is possible to get proficient at it with practice. I have an old Italian racer that I ride a lot. I think that would be a great bike to start with. You can give it to your kid in 20 years when you are ready to upgrade