So I did pick up the Premio, seems alright other than bent wheels.
I took it for a short 8mi ride to the beach as soon as I picked it up, and other than the bumpy ride -LA streets are to blame, not the bike- everything worked just fine. Well.. maybe not so much the brakes. I survived somehow.

My earlier guesstimation was incorrect. It's a 86'-87' Premio made in Taiwan w/Tange Infinity tubing. Flimsy Araya Wheels, Dia-Comp Brakes, Sugino cranks.. etc. Hubs didn't seem to be anything special - just says "sealed bearing," if memory serves. It's a 48cm so a bit on the small side, but it was definitely rideable.

Here are the pics:
(Please excuse the quality of the pictures, as I only have access to a Camera Phone at the moment)



I think it will fix up quite nicely. Perhaps new set of wheels/tires, brakes, and nice cleanup will make it shine like new. Wondering whether I should build it for my brother, or take on another little project, as I'm working on a Schwinn fixie (blasphemy, i know!)..

If I decide to part with it, are you interested at all East Hill? How's the Nishiki doin?