Thanks everyone. I didn't think Schwinn made Continentals in 1983, and the decals seemed to say something other than Continental (aside from the top tube). It's clear this bike was pretty heavily ridden and there were a lot of things replaced over the years (the cables are more contemporary Shimanos).

noglider, not really sure. I'm thinking I might flip it after I work it over a little bit. It's waaaaaay too tall for me. the top of the frame comes up around my waist. Even with the seat adjusted, I doubt I could even get on it. And I would have to replace the back wheel anyway, it's bent so far out of whack it won't move. It's a shame, because it seems like a great bike.