Early 80s Falcon Laser advice?

[CountryBob]

Hi All

I've just been given a rusty Laser from the original owner, who thinks he bought it in the early to mid 80s. I have no experience but am considering attempting to restore it. But first I could do with some answers to these questions:

1

Was the bike any good? The frame is a Reynolds 453. Is it of sufficient quality to justify the expense of having it stripped and resprayed?

2

The rear drop out is 120mm. The cassette is five speed. Any advice where I could get new - or good quality second-hand - hubs/cassette/wheels? (The rims and sprockets are shot, but the hubs may be salvageable.)

3

Does anyone have the original specs for this bike?

Thanks

Bob