Nice! Looks almost brand new. That shade of Rustoleum looks great. Is that a brush job?
I used to think there were tons of old 27" bikes out there, until I actually started looking for them. Then I realized how scarce good 27" frames are becoming these days, Old Varsities and Continentals are 75% of what I see.
You gonna get some decals? Might break the bank, but I think they'd look awesome.