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...I would not personally scrap that bicycle. With some attention to its idiosyncracies and a lot of work, it would make a good restoration project for someone who has an enthusiasm for old 70's bikes.
I can't tell just from looking at it if it comes with the full range of problematic components Lamberts of that vintage were noted for, but the people on that other forum probably can tell you a lot more.
I have never restored one of these myself.