From what I can see, that's a well nice handbuilt frame- going by the vertical rear dropouts, probably a time-trial frame, with a wheelbase of less than 39" and close tyre and brake clearances, almost certainly commissioned by a serious competitive cyclist. Unless you were going for the then new-fangled 753, about as good a frame as you'd hope to get back then, and would have worn a full compliment of Campag. NR/SR. IMO it has a really nice fork-bend, too, (they don't always).
Regarding the stem bolt, I've (touch wood) never had to tackle that particular problem, so take this for what it's worth and get a second opinion. I take it that the stem is 'stuck'- i.e. you cannot move the bars sideways at all with the front wheel held between your knees?
Judging from the photo, that might not be the original Cinelli bolt anyway, and even if it is, it looks like the washer under the bolt-head may be missing. You might be able to clean up the hex socket 'corners' sufficiently with a needle file or Dremel or something to get a hex-key to function in there again- obviously it would have to be a slightly larger hex-key than the original. Upend the frame and get some Plus-Gas down the steerer tube and let it soak in before attempting to loosen the bolt. If that doesn't work you may have to drill out the whole bolt-head- a careful operation, 'cause you don't want to go through into the alloy stem- use a hand-drill rather than electric. If you get the bolt head out, you can get a 'drift' against the now exposed end of the shaft of the bolt and hammer it out, again careful not to slip and dig into the alloy of the stem itself. If you succeed in getting the bolt/expander out, you may still need the Plus-Gas to free the stem itself from the steerer. And of course all the time you've got to be careful not to stress that nice old frame and forks.
Last time I looked, (some time back!) Campyoldy had some generic expander bolts for a few quid.. not Cinelli ones, which I believe have their own thread. You may be able to re-use the existing expander 'nut', but obviously you need a bolt with matching thread... and don't forget the washer!
Hope this helps.