I picked up a Pro Miyata from a forumite I didn't know with rust, paint issues and almost given, other issues for probably too much money last summer. His photos were excellent so only issues that were well hidden and he would not have known yet were there.
And? I got a frame that is true, stiff, fits like a dream, rides like the very best of the mid-80s race bikes and is a joy! (Well the fork blades are spread 5mm. Too stiff for an easy squeeze; like good high quality tubing. I'll address them when I set up a jig and decide to get real in some future year. The seat pin threads stripped the second or third seat height adjust. That rust. A very serviceable and not bad looking SS Ace Hardware bolt and nut is now doing the job.
The bike will never look the part it should for what I paid. But - I got a dream ride, a bike that takes me back to the bike I raced and loved, only a decade later and better. Now set up with almost the wheels I trained and club raced. Gel330s and Conti 22mm Giros. (Then it was Arc en Ciels and Vittoria (but branded otherwise) 300g cottons.) Small slice of heaven.
And for those who care - I believe this was a Superbe equipped bike. FD, RD and unmarked brakes came with it but were so rusted they are a future project. Put on some almost NOS Cyclone brakes, an old Cyclone RD and newish Cyclone FD. (The brakes because they are so short. And with the pads pushed all the way up, fit is perfect. Did I say mid '80s race? Yup, tires are that close! FD spanning a 52-42-30 Campy crankset works perfect. RD didn't have enough spring to get the small cog so I wrapped bungie cord around the parallelogram. Blue to match the paint and it works perfect! I never think about it and wouldn't mention it but I noticed it yesterday moving the bike. Hubs - not perfect but they work just fine. Rear is a probably Taiwan OEM 7-speed FW. Saches 12-26. (I have a bunch of nicer hubs but finding rears with straight axles is a challenge!) Front is an older Campy low flange. Satin finish, no oil cap so it may be a Tipo. Sapim 2.0-1.6 DB, 2.0-1.8 RR, 3X.