Some of you know that I've been keeping my eye out for a project bike. Originally, my goal was to diligently search for a bargain, a "fixer upper", and spend some time occupying myself on a restoration. But as is often the case, too much pondering leads to too many requirements (it must be lugged, it must be lightweight, it must have pretty components, etc.). So lately, since my project bike was planned to be more zippy than those in my current stable, I've even considered saving up for a Rivendell Roadeo. In fact, I seriously considered asking Jeremy Shlachter at Gallus Cycles to build me a frame. Now that I've seen his work in person a couple of times now, I hope to commission one of his frames one day.
But this project bike ended up somewhere in the middle of the spectrum. In other words, it appears to be in satisfactory riding shape, but I might plan to restore/rehab/upgrade it somewhat.
I'll post some photos after it arrives. Until then, here are the hints...
mid-level race bike
Sounds delicious, eh?