You need to check the fork. If it is aluminum, you really should replace it before you ride the bike. The aluminum forks accaionally failed by snapping where the fork was bonded to the steerer tube. You would want to be on the bike when that happened. There was a recall on these bikes which amounted to them send you a new fork. You might be able to find a chromed fork that will fit it cheap.

The original bike was light with reasonable components at a very attractive price. The components were all made by Lambert. The derailleurs didn't work well, so a lot were replaced. The brakes were OK.

AFAIK, it was bonded or welded aluminum tubing. The frame was very flexible, though, so it was not very efficient.

The bottom bracket bearings are not threaded, they are pressed in.

BTW, I have a Lambert Frame in the attic.