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@veLLo
Very happy to read you have decided against converting dropouts!
Ed is right, rain is not so much of an issue.
While the frame is not built, look inside the tubes through the BB shell, check if there is any rust inside. If you are not sure show it to your LBS. Prior to re-building the bike, get oil inside that will leave a greasy film, this will help. Someone here please suggest the right product to use (not WD-40, it will evaporate... lamping oil? plain normal bike chain oil?)
A clear varnish on top of the frame will help too (do that before the oiling process though if you do it...)
Nice frame, I hope you'll use it geared one day!
Do you have better pictures of the frame please?
Good luck with your build!