I have nothing but praise for the square tapered bottom bracket, although everyone considers it a very basic component with minimal durability.
People forget we used square tapered for decades before the external bearing hollowtech type. The only downsize is weight, maybe? Their design is super simple though... two bearings stuck into an axle hahaha nothing to go wrong there.
I believe that frame was polished aluminum originally. Would be awesome to restore it back, though it's painful to polish alu; not so sure about maintaining. I'm thining about something like this