My nice Co-Habitant picked up the Raleigh from my parents' house! He reports that the bicycle is in operational condition: It is structurally sound. The tires hold air. The brakes work well. The hub is fine, and only the shifter requires adjustment. The saddle needs some care and the chain is rusty, but otherwise all is in great shape. This bike is about 40 years old and had been lying in the garage abandoned for the past 20. Amazing! You can read more about it here.
My only concern now, is the size. You can see in the photo how small the bike looks next to a 6'1" male body. I am 5'7" -- will it be a good fit? It will be a little sad if after all this excitement, the Raleigh will be too small for me.