I have the exact same frame in size 16 and it's a very nice bike. It's supposed to be for height up to 5-6, but I'm 5-7 and it's not too small for me, so I think somebody a little bigger could ride it very happily. It depends whether you like big things. Some people like big girlfriends. I like small girlfriends. More manoeuvreable. Same principle.
The 'flite style' saddle looks like a 1994 Kona Race Light with the unusual shape of rails (see below) and if so is quite rare. I would love one for my 94 Explosif, so please bear me in mind if you were to split the bike.