I think it's a Carlton Flyer. I have an all-original-except- for-the-front-wheel Carlton Flyer 1966. Mine has the same lugs and wrapover stays and the unusual vagner crown without epaulets. In the mid 60's the bikes were fully chromed which let the head lugs and rear stays show through via a polychromatic paint job.
Jerry Mortimore in the U.K. informs me that in the U.K. these were "full custom, anything-goes" frames. The ones in the USA shared a lot with ~1969 raleigh pro's (no fastback cluster, vagner crown, full campagnolo except weinmann brakes.)
I cannot see for certain but I think the frame has a Carlton centerpull brake bridge, as Weinmann 610's were standard issue back then ( Campagnolo brakes were generally not available in the era when Steel-Record rear mechs and front derailleurs with cable stops were shipping ...) My bike has a 151 bcd record crankset.
I think that it has been repainted, or at least the dark blue panels were added or redone. Here is a 1972 Carlton Pro (UK) with similar livery:
http://www.carltoncycles.me.uk/
The baby blue panels appear to be Carlton's "Lagoon blue" color, as seen on the head badge. The top-tube panel would cover up a mangled "Carlton Flyer" decal. The downtube decal is an actual carlton decal but I don't think it was used until the early 1970s.
It's very likely that the only original parts are :
- frame and seat bolt (same as mine) - front derailleur (same as mine) - headset ( no <C> ) - shifter (although someone trimmed one spike on the band) - possibly the brooks pro saddle and seatpost.
I talked with that guy and the hubs say "Campagnolo Record" which means they are later hubs, and he has a ~1980 rear derailleur judging from the black plastic horn on the adjustment screws. My rear wheel is Campagnolo No-Record with a 27" Scheeren steel rim.
- Don Gillies
San Diego, CA