WOW! 25 years of grime and it looks like THAT? I'm impressed. That is a fantastic find.
And about the gearing, well, it looks pretty close to the gearing on my bike, although, you're running 700c's, while I'm running 27's, so your gearing will be minutely smaller than mine, and my lowest is 32... I think. So, you're probably right.
Anyways, fantastic find. I'd love to find a bike like that in my size for not much money.
GR