Yeah, although it's probably not too bad, though it does raise the question about howit's been kept.

Also, anyone know anything about the ends? I've only ever seen those style ends on a Surly, but I find it hard to believe that Lemond would use Surly track ends.

Edit: it also appears that there's a brake mount on the seatstay bridge. It coud just be a decorative something, but it looks suspicous given the rust in the BB shell, the Surly-esque ends, and the apparent difficulty getting them. With the black paint job it's hard to tell if the chain stays have the Surly dimples though even those could be bondo'd.

Further update: in one photo you can pretty clearly see a bottle boss in exactly the same place it would be on a Steamroller frame. I cry foul.