""RALEIGH track bike on EBAY with ITALIAN BB??""
Fast guess -- damaged BB, tapped out to Italian.
OTOH, I question a "Technium"/531/track bike. But then, my mind is fading with age. At least the dropouts are filed down, which proves that it's a good frame. Hey!! Maybe it's a pursuit frame -- tapping the BB out must remove critical grammes (note affected Brit spelling) of avoirdupois.
Shrug. Details.
Cheers,
Peter Bridge
Thornton, CO