Okay...the camera batteries are nearly dead and I still have video from my daughter's first day of riding without training wheels to upload.
I found this bike leaning up against the wall of a Tim Horton's (last summer) when I stopped by for an a coffee and when I returned later in the afternoon it was still there, unlocked, and pretty much unrideable due to the cantis being pulled up too tight.
I went and talked the manager and after leaving my name and number (showed my id) I took it home and contacted the local police to see if the bike had been reported stolen and after a long wait (of months) got a call where the police informed me that the bike was mine.
The bike is mechanically perfect and is as smooth as silk, the Rigida Chrolux wheels glow, and all she needed was proper bars and brakes which I installed and wrapped today.
The frame only has a few little chips, the Simplex derailers are showing their age (but work perfectly) and could be replaced if I had $1000.00 for the JUY 543... the Competition shifter is easily replaced and not all that costly.
The Sedis chain is interesting as it has a threaded link with a screw to keep things together and in all the time I have spent working on bikes... I have never seen anything like it.
On today's ride I took her 12 miles and made like Pantani on the climbs... the bike is amazing in this regard and the ride has to be experienced to be believed as it is smooth and very fast.
I plan to add one more layer of yellow cloth over the cork and will see how it looks after being shellacked and strung as it is almost as bad as running white cloth for showing road grime and picking stuff off my hands and gloves.
The spokes need to be polished up and then I plan to wire and solder them, and then balance the wheel to get as old school as possible.
My friend (a really experienced mechanic) told me that the naked frame on this bike is very light (sub 5 pounds).
Thanks to the C&V folks for the positive ID and scans of the original catalogue / advert.