That's part of our local vintage bike group, one of the largest in the country. Chuck Schmidt is in the blue Campy jersey, he's kind of the mover and shaker; organizes the annual Velo Rendezvous meet in Pasadena, among other things. The guy in the yellow Del Tongo jersey has one of the largest vintage bike collections I've ever seen; he could fill a decent sized museum with pristine and incredibly rare bicycles.

The TT bikes, BTW, can be a bit misleading. They're actually no different than riding a standard racing bike in the drops. Picture the cowhorn bars being the drops and imagine the rest of the bars extending up, and you'll see that the stem would only be a few inches below the saddle.