Oh, the memories! My first 10 speed was a Continental. A bit heavier than the fancy bikes, but rode well and was virtually indestructible. This led to a hobby of collecting broken Varsities and repairing them to provide family and friends with bikes. I even flipped a few. This was also my introduction to bike repair and service plus wheel truing. Many of these bikes got alloy wheels and cockpit components. I remember converting a continental to a three piece crankset. Replacement parts were readily available. I don't think I ever encountered a bent Varsity fork or cracked frame.
Enjoy your bike!
Cheers,
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Remember: Real bikes have pedals.
...and never put a yellow tail on a Red, White and Blue kite!