I'm a Stella owner - 1972 Tour de France, Columbus, all Campagnolo originally.
My understanding of the "Arctics" is that they were made for the Arctic snowmobile (and other powered equipment) dealers to sell, perhaps for some income in the spring and summer when the snow had gone away and snowmobile sales were off.
My bike is 74 deg/74 deg parallel on the head/seat tubes. This one looks like 75/72 or even flatter on the seat tube.
Paint on this bike is in good condition. My bike has a lot of chips / paint just didn't stick on.
Joel Niemi / Snohomish, WA