Just picked this up today off craigslist.

https://www.flickr.com/gp/46013330@N00/3YD665

4130 Chromoly frame, gum hoods. Front QR, rear bolt. Suntour components, SunShine hubs. Brakes are Changstar? Never heard of them.

I forgot to check, but I think it has 27" wheels as opposed to 700c. Just saw a frame/fork combo sell on eBay for more than I paid for this, so I think it's an awesome deal.

Well if it was a deal or not depends on how much you paid. Looks like a solid rider. not exactly gas pipe with steel wheels but it's not exactly middle of the road. more low-mid range, has all the upgrades from a gas pipe to make it a viable commuter and daily rider, like alloy components (wheels?) and a chromo frame. Solid bike I'm sure it will serve you well.

I had a friend that had a Takara in high school. It was a nice bike - I bet you will like it. I have kind of been keeping an eye out for one. I agree, the wheels are almost certainly 27 inch. It looks to be in good shape. Congratulations!

Before you ride it, you might want to close the front quick-release.

That was my fault, I put the wheel back on after removing it from the van, and in my haste to take pictures, forgot to close it.