I remember Italvega when it made its brief US appearance in the early 1970s, before they had to change the name to Univega because it was no longer made in Italy. I looked at a Valentino-equipped model at Charlie Harding's shop near UCLA, but ended up buying the American Eagle Semi-Pro, instead.
I suspect your Univega serves the same purpose for you that my Schwinn KOM does for me -- the main difference is I prefer ATB bars with extensions, although I have contemplated putting drops on it. However, since my wife does not care for drops and occasionally rides my mountain bike, I'll probably stick with the current configuration. (I originally built the Peugeot 40 years ago for her, but since she does not do much on-road riding, I took it over as my commuter/beater and put drops on it.)
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069