It is essentially one step above a Peugeot UO-8, and it probably dates from the late 1970s. (Make that early 1980s if you have a 6-speed freewheel.) It should be a good solid transportation bike, and it is definitely well worth what you paid for it. (I have heard of only one better deal on an Austrian bike -- Capo #1 cost me $20 at a yard sale.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069