Regrading weight I'd say everything is heavier. I never weighted the frame by it's self but it's not built from lightweight steel. Wheels are steel, cranks are steel, etc. The brake calipers are nice quality aluminum along with the levers.
My recommendation is if you buy I'd do so for restoration proposes. I'm not riding up any steep hills so the 40lb weight doesn't bother me for the routes it's taken. I'm not joking when saying is one of the best riding bikes I've ever ridden in stock form.