The Atala looks nice. The rusted steel parts can be de-rusted by bathing in oxalic acid. It will remove the rust and improve the appear and function of the fasteners and the Uniglide cassette cogs. To remove the cogs requires the use of two chain whip tools. If you aren't equipped to do your own wrenching, then seek out a competent bike shop that understands older bikes. The acid bath is only for steel parts, make sure no aluminum parts are exposed.

But the chain should be replaced with a new one. Cheap investment there for $10.

Look pedals are clipless design, and require Delta cleats and riding shoes. Regular pedals as replacement will allow you to ride in normal shoes.

I like to replace old cables with new stainless steel ones.

And, as stated, overhaul all bearing components....clean, inspect, regrease.

A wire brush will remove the corrosion on the spokes. And the aluminum hubs can be polished to a mirror shine with aluminum wheel polish/cleaner for car wheels.

New brake pads will provide optimum braking performance, but you can try sanding down the pad surface to reuse them.

A lovely classic bike that can be enjoyed for decades to come. Once tuned, it will perform very well. Nice ride and handling.

Congrats!

beautiful Atala, indeed. what everyone says.

however. it seems at least 54cm-55cm size. might be more than a ted larger for 5'04" tall, i'm afraid?
of course it can be a good flippin, only if you are used to be in buy/sell hobby i guess.

???

(sorry i realize it's a bit too late to jump in. hope it works out well. beautiful bike, again)

Thanks for the tips. I will take it to the shop tomorrow morning. Please let me know if Nything else I can do to make this better

Can anyone tell me if the shimano 600 parts on this bike any good?

Can't tell you if the 600 parts on that particular bike are in good shape, for example if those hub bearings are rusted. But Shimano 600 components were quite good. They were not junk, if that's what you are asking.

Yes that's what I wanted to know if the part is worth restoring or replacing with something else.

No, they're quite worth keeping. Nice find. A good future project might be relacing the wheels with stainless spokes, which will give you a chance to polish those nice hubs.