Thanks for all the info guys. A friend looked at the Craigslist ad I had been checking out and deemed it a lower end model that was priced too high. Also, after inquiring, the guy kept raising price, and I didn't really want to spend too much on it.

I ended up picking up a 56cm Puch Austro Daimler instead for $50. It's going to be my commuting bike and I'm going to keep my eye out for a good Gitane or Motobecane if any pop up.