marius.suiram 

The bike has a serial number that is a 1981 Trek 950.
The colors and marks are from a 1983 Trek 970.
It is possible to be a frame from the 81, built later in 83 as a Trek 970.
Anyway it had a Dura-Ace crank set, Campagnolo derailleurs and brake calipers, Modolo shifters, Mavic Open 4 CD wheels with Shimano 600 hubs, Stronglight head and Phil Wood bottom bracket.
The bottom bracket is very smooth, but looks to be wrong mounted, it is out of the frame on the drive side.
I was at the LBS to see if it can be adjust somehow, but they don't have the tools.
What is your opinion: should I leave it like that or look at other LBS for the tools and take if off the frame?
Also, how would you build the bike?
I have the Dura-Ace derailleurs and shifters, but no brakes.
Also have some Super Record group on a Andre Bertin, Vitus frame, which I can use.
Here are some pictures with the frame and bb

Kabuki12

I have a Phil BB on my Colnago and when I adjusted it for the correct chain line , I had the same issue. I bought the correct tool on eBay to remove the BB so I could have the frame redone by Franklin . When I put the bike together I realized that I never measured the distance from the end of the drive side spindle to the BB shell. I had to set the chain line by trial and error because the Phil BB is not a fixed cup set up , it is adjustable. I recommend getting the Phil tool and if you decide to remove the BB for whatever reason measure the spindle to BB shell so you can reinstall the BB to the correct chain line for your bike. I have never had any issue with the threads protruding . Be sure to look up the torque value and use the tool to correctly tighten the BB. After tightening it take a brass hammer and tap each side of the spindle a couple of times and retorque. Mine is Italian so I did not want it to loosen . It has been fine and it has been over a year and a half.

Mad Honk 

Those frames were designed for the Campy group. Change it over to the group you have and enjoy! smiles, MH

Hobbiano 

I think it's an '81. Just going by the catalog, you could get custom colors that year, and the '83 has a bottom bracket shell with integral cable guides and the cable was routed below the chain stay. I think your lugs are long point and in '83 they specified short point. But I guess it could have sat around until '83 then they painted it in '83 colors and called it a 970 instead of a 959 (the bare frame was called a 950 in '81) that it was called in '81. Just my guess.

Mr. 66

I have the '83 970, mine is like the OP with the above the bb shell cable guides

Sedgemop 

These are underrated frames, in my opinion. Had a 950 frame I built up with tri-color 600 that I really liked. They're good candidates for modernization too, if you're into that kind of thing. Campy is the classic choice, of course.

Classtime 

As noted, the BB is adjustable for chainline. Also, Phil Wood offers different tapers so perhaps the taper on yours is best suited for the Dura Ace cranks.

Hobbiano 

Yeah, I was just going by information and pictures from the catalogs, which may or may not be all that accurate. Does your '83 have an '81 serial number? https://vintage-trek.com/SerialNumbers.htm