I have a VHS copy of this movie and have had it for some time. The quality is not the best but pretty good. I have tried a few times to convert it to DVD with my own system and have not been successful yet.
As for the movie, yes there are some issues with the machinery but nothing that an average cyclist would pick up. The movie itself is pretty good in my opinion. It is a Disney movie made for Australian audience as it takes place in the period where Major Taylor raced on that continent. There is even a name in the movie, that being Robert Vaughn who plays Taylor's love interest father.
If I can get my copying together I would offer copies but not for sale just for fun as you cannot get this movie easily anywhere. There are some real good race scenes and the competitive aspect is pretty good also. There is the racial aspect as expected and the introduction of American cyclists to combat Taylor's dominance of the locals. The Americans are portrayed poorly and they use the actual names of the American cyclists so there was no protection of the innocent if they were indeed that.
Overall I would give it two thumbs up.