Yeah, Peugeot is one of the last bikes I would choose if I was looking for an old 10 speed. French car makers are known for doing things different just for the sake of it and in my experience old Peugeot bikes are no different.
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I'd pass on the pictured bike- the drooping chain indicates a tired RR derailleur spring, the steel cotter-pin cranks are crap and I'd bet a set of Rotosounds that EVERY other item- cables, brake shoes, etc- on the bike is equally worn and/crap to begin with. It is a horse w/1 broken leg and 2 iffy ones.
This is the type of thing I would be going for if I was going to buy a bike for year-round commuting. 90's mountain bikes are well-built, the components are generally better and safer than 80's or earlier road bikes, and they are usually lighter weight.
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Looks like I'll be getting the one kai_ski linked. It's going to be hell of a ride back home but it'll be worth it.
I'll put slicks on it and ride the hell out of it
edit: I'll also swap the seat post QR for a regular bolt.
make sure it's the right size. that's IMO the most critical aspect of buying a bike you're going to spend any significant amount of time on.