Tom,
I've got a Fuji Del Rey I bought 18 months ago. I think it's an '82 or '83, so it just fits the CR guidelines.
I just checked on my seatpost; it's a Sugino, 26.8. (Sheldon notes at his
seatpost site that some Fuji *Team* owners report a 26.6 post . . .
http://www.sheldonbrown.com/
I don't know about the Dura Ace crank and the spindle it will require, but the original crank on mine was a Sugino RT triple, which required a longish spindle--longer on the drive-side. I'm sure the DA will take a different spindle, but if you want me to hunt down the original spindle from mine, I can.
Valite . . . mine's Valite quad-butted, too. Chuck's right when he says it's not Cro-Mo, but I don't think it's "gaspipe," either . . . it's an alloy that's different than Cro-Mo. I know there are links on the web that talk about Valite, which was a Fuji exclusive--their trade name or such. *How* it's quad-butted, I don't know for sure. I suspect there are different thicknesses throughout the frame, but I doubt very much that any one tube is "quad-butted."
My Del Rey is a medium-dark grey. It came with Ukai rims and SunTour LePree (some labeled "LePreel") derailleurs. The bike had seem rough usage, and I had to replace bearings everywhere; the front derailleur has way too much slop and I plan to either replace it . . . or turn the Del Rey into a single-speed.
I think of the Del Rey as Fuji's sport tourer; they had a higher series of touring frames with cantilever bosses--those are the really nice ones. For an overall picture of the Fuji line-up of 1985 . . . here's an excerpt from a post (8-12-01, different list) by a fellow named Guy Meredith:
"There were 13 lucky adult road bikes in the Fuji line in '85. There were 3 entry level bikes (with brake extension levers), the Regis, Allegro and Sagres (from bottom to top). "Then 2 recreational, better spec'd bikes, the Espree and del Rey. "Moving into more enthusiast-oriented models, there were 3 touring bikes (3 touring bikes!!!), the Touring Series III, IV & V. "Then the performance-oriented race bikes, starting with the League, then the Club, Team, Opus III and Professional."
Anyway, I hope this helps. It's a nice little frame, thought Fuji produced far nicer frames back then. (The seat stay cluster on the Del Rey is particularly jarring to my eyes, but higher-end Fujis are much nicer.)
Have fun with it!
nath