touring or racing frame?

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That's a "sports tourer" ie. basically a road/racing bike adapted to carry a bit more kit so if you wanted a racing bike just don't fit the panniers etc.

Looks OK - the only thing I would be concerned about would be the bottom bracket.You might need an LBS to get take it off for you if it needs replacing.

And make sure he is including the wheels as they are - it may be that a little work by the lbs can get them trued or you can keep them for spares.
 
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