The Nishiki frame doesn't look too bad. I don't see much rust in the picture. They're pretty popular bikes to fix-up in the Seattle area. They're considered a classic by the retro-grouches(of which Dh counts himself) of the world. BoyInAKilt would be able to tell you more about it. Unfortunately, he's not around this weekend.
Nishiki on Seattle Craigslist
Blog about Nishiki on Velo Orange
Edited to add: Oops, looks like others have already informed you about it. That's what I get for getting up in the middle of my post to finish up dinner.
Last edited by sgtiger; 10-12-2007 at 06:25 PM.
Everything in moderation, including moderation.
2007 Rodriguez Adventure/B72
2009 Masi Soulville Mixte/B18
1997 Trek 820 Step-thru Xtracycle/B17