This vintage wheel is in good condition except that the finish seems to be messed up.  The wheel is actually quite lightly used, with only a little wear on the brake surface. However due to exposure to the weather or some oil or chemical, the finish on the rim seems to be uneven.  The rim is round and true. The bearings spin but there is a bit of friction so they probably need new grease.  The hub also has some unevenness to its finish.  This would be a great wheel if you don't need to worry about the cosmetic aspect.  Sold by Trued Wheel in conjunction with Vintage Velo Venice.