In re: Jimmy's bike:
http://www.wooljersey.com/
I agree with Tom Sanders. That is a very nice piece. A prime Carlsbad bike with a bunch of special touches, and that full panto group is very tough to assemble. I'd say Jimmy's price is just about right. If you've been looking for a prime Masi and this is your size, you might want to go for it. I can tell you from looking on ebay, and elsewhere, regularly, for 10 years, that Carlsbad bikes like this show up practically never. I've had a few myself that never make it to the public market, but were sold privately. That happens to more than a few bikes of this sort.
That said, the Carlsbad frames are worth more to some, than to others. Worldwide the early 70s Italian Masis are probably more desired. In southern california, we know that the Carlsbad frames, in general, are often more nicely wrought than italian frames of the same period.
Without soundling like a pollyanna, I think Tom is right: Jimmy's bike is a keeper, and his price is not unreasonable, imho, for a keeper, anyway.
Charles Andrews
Los Angeles