Joined: Sep 2005
Posts: 2,993
Likes: 300
From: Hervey Bay, Qld, Australia.
Bikes: Colnago (82, 85, 89, 90, 91, 96, 03), 85 Cinelli, 90 Rossin, 83 Alan, 82 Bianchi, 78 Fountain, 2 x Pinarello, Malvern Star (37), Hillman (70's), 80's Beretto Lo-Pro Track, 80's Kenevans Lo-Pro, Columbus Max (95), DeGrandi (80's) Track.
I'd try cold re-setting too. It could crack but I'd chance it. For $75 it could be a great buy. The dropout with the two threaded small holes came out in 1978/9. The two holes were designed to fit a Campagnolo chain de-railling system called "Portacatena". I would guess your frame to be made around 1980.
As there is no paint on the frame, if you had access to an oxy/acetelene set it would be a simple task to heat the dropout to a red colour near the rear of the dropout and bend it back into shape.
I have brazed a cracked dropout with bronze and it is completely successful 5 years on.
Best of luck,
Gary.