My guess, a late 1970's or early 80's decent quality Italian bike.
Looks like a repaint and re-decal job to me.
Try here for some possible matches:
http://www.classicrendezvous.com/Italy/Italy.html
Also maybe join the classicrendezvous mail-list there are people who are
good at this type of guess work.
http://www.bikelist.org/mailman/list...ssicrendezvous

Marcus