BB = bottom bracket, where the serial # located.
Dropouts = small metal lugs brazed to the frame that the wheels clamp onto. Your rear one is horizontal which typically is used on track frames. It has no hanger for a rear derailleur. Bikes built pre 1990's were all over the place in regards to build spec's. So many different parts suppliers, it really was up to the bike dealer what component group would end up on many of the models. Its how they made there profit, if you had a bike that was spec'ed with a full Campagnolo or Modolo or Suntour component group, you had a highend bike. Shimano was just becoming available in the 70's and made its name when indexed shifting came along in the 80's. Todays, for the most part, component groups are Campy, Shimano or Sram.