I took a look at your additional pictures on bikeforums. The crankset is steel and cottered. If you wanted to turn this into a bike for distance riding, I'd replace the crankset with a cotterless alloy model, which would save weight and add stiffness. The front derailleur is the old pushrod variety. There's a reason those were replaced with parallelograms. Pushrod derailleurs hold the cage at the same height no matter which chainring you are on, so you'll get a lousy shift on anything but a narrow-range double (which that bike has). And to adjust that model, there is a screw for the outside stop, but the inside is adjusted by moving the cage on the pushrod, which requires you to readjust the outer stop screw. This is the same design as the old plastic Simplex front derailleur, which was in widespread use through the early 70s (Simplex must have copied the Campy Gran Sport). If you want to keep this vintage, I'm sure you could just repack all the bearings, clean it up, and have a great bike (or sell it for a good profit).
Oil is good, grease is better.
2007 Peter Mooney w/S&S couplers/Terry Butterfly
1993 Bridgestone MB-3/Avocet O2 Air 40W
1980 Columbus Frame with 1970 Campy parts
1954 Raleigh 3-speed/Brooks B72