No 10-speed for me back in 1980, but the red beauty featured in this ad looks a lot like the bike my sister owned. She loved that bike until the front tire got caught in a sewer grate and she went down hard. This being shortly after recovering from her leg-breaking skateboard accident, she abandoned wheeled vehicles after that. The bike would die a rusty death in the shed in the backyard until we through it away in the late 1980s. I remember carrying it to the front yard and the wheel was still bent, preserved in rust just like it was on the day of her accident.
When I was a kid, ads like this were a real draw for me since they featured offers for catalogs. I don’t think I ever sent away for the 1980 Schwinn Catalog, but I wish I had.