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thanks for sharing this most excellent find!
RGF stands for Raccords Gargatte Freres, but then you probably knew that already.
are you able to make out the word on the dropout? think i can see the letters _OWER_.
the D/S rear hub is a fine item.
bicycle clearly too early for a 1974 date; 1961 is a plausible date.
would expect length of the Magistroni crank arms to be 150mm.
pedals appear they could be either Sheffield or Way-Assauto. are you able to read the markings on the plates? Sheffields typically have three digit model numbers beginning with six.
are you able to read the marking on the handlebar stem?
can you make out any surviving words on the yellow seat tube transfer?
the world racing stripes transfer appears to be the Schwinn version.
juvenile race bikes are oftimes rather rude affairs, this is certainly a very fine one!
ps - very good job with the pictures.
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