Thanks all...What was strange was that I never asked the seller what he paid. He came out with this. I was basically picking up a $100 bike..I guess it was his medication doing the talking...What's weird was that there was no real reason for him to make this up - it's a $100 bike...

Anyway, the bike is a Romana. There's another sticker on the frame with E.B.M. made in italy. As the thread started, the bike has ballila brakes, and gian robert derailleurs. Bike boom make complete sense.

Thanks again for the comments...