I hope it can be saved because I've always liked the Rollfast brand. Even if it's not the roadbike I would still like to get at working.
Here is a picture the rest of the bike. The rest of the frame does not look that bad but the components are pretty crusty.
I noticed that the bottom headset cup on this Rollfast is not in all the way in and it us spinning around in the headtube. Should it be pressed all the way in or is there too much rust?
These are pretty rare. I think it would be cool use the frame and make some kind of long lean path racer bike with it. Install different handlebars, remove the plastic disk, add a larger front wheel and fork, and paint the whole thing black.
I have these on a bike and they actually rode d much faster and smoother than the clincher equivalent. Both of them got slow lakes and I haven't had the time to replace them even if I have a new set. What's holding me back is it's gonna be a struggle to remove the old glue off the wheel...