I remember the Falcon. We sold one for $99.95 in 1973. It was the lowest-priced 10-speed we carried. A bargain and a nice bike to boot. I haven't heard of the Sorrento though. That derailleur looks like a Huret Alvit. Have fun with your Falcon. Be sure to repack all the bearings: hubs, bottom bracket, headset. I've done a cotter pinned crank and frozen bb cups recently, so ask if you need help. Popuki Nui is a great resource on frame restoration.
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