Don Wilson asked about the Legnano. It looks to me like the real deal, although the dropouts do look a little odd. I am amused by the description of the stem and brakes. The stem is obviously an Ambrosio, while the brake looks to me like a Universal Extra and the lever is certainly Universal as well.
Cheers,
Mark Ritz
Easily amused today in foggy Arcata, CA, USA
http://www.kinetic-koffee.com