First Cannondale Criterium’s came out in 1987. I have a 1988 that is my main rider. The original 80’s Criteriums have somewhat of a cult following. But they are a love-hate due to stiffness. With a steel fork I find the ride to be fine. For me it has been the most fun bike to ride and is so stable for a steep HA bike. I would call it a fast bike in relation to the era.
You can run a “more modern” drivetrain up to a point. Some here will say just shove a 130mm OLD and ride since the bike is so stout. I would prefer to bring the FH down a 2/3 mm’s with thinner washers/locknuts.
Everything else is the same as any other C&V 1” threaded headset road bike.
John