I have not ridden this particular bike, but I have a lot of experience riding what are essentially knock offs (my Nishiki Prestige and the Centurion Dave Scott Ironman Expert).
My impression of both my bikes with the smaller front wheels is that they are a bit twitchy compared to my other bikes, but I easily adjusted within a few hours of riding.
They seem to be very light bikes, very fast. I would guess that your wife and daughter would LOVE this bike, based on my experience. Of course, they'd have to ride it for themselves

. It's a nice, nice bike. When I first started looking at older bikes I was actually hoping I would run across something like a Terry bike.
I'm guessing 1987 by the colour scheme. Terry is still in business, and may be able to help you date the bike if supplied with the serial number. In fact, when I sent an e-mail to the Terry website, Ms Terry herself answered it

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East Hill