I have never seen or heard of a Midas frameset. It looks to be of at least intermediate quality going by the pictures. As to a guess about its vintage...early 1980's going by the braze-on's and components.
The shifters and derailleurs are low-end Campagnolo...possibly Triomphe or Victory models. The rest of the components are a pretty weird mix of low end Ofmega, Saccon, etc. Saccon was founded in 1981 in Italy and is, as far as know, still in business (
http://www.saccon.it/index.php).
The bike is really not worth dumping a lot of money or time into as it is in pretty rough condition and 6-speed rear end. It is worth cleaning up, replacing what is absolutely needed and riding it. The frame may provide a very good ride. The biggest issue with the bike is corrosion from a distinct lack of care and/or poor storage conditions over the last 30 years or so.
The polishing and detailing time might amount to 40-60 hours or even more, but if you have the time the final result will be worth the effort, in conjunction with some necessary repairs. Doing it in 2 to 4-hour sessions the job will be complete in a few weeks time. It sounds like a lot of time, but it's really just a matter of sticking to it.
You will, of course, need new tires and tubes. The chain may be salvageable...or not. All bearings will need to be pulled apart, cleaned and lubricated. If you have the correct tools and mechanical aptitude, this is a fairly easy job. Having a bike shop do all of the above for you might run into a couple hundred dollars, but if you can tires mounted yourself and do the mechanical work, you'll be on the road for around $50-$75.
The brake and shift cables probably will work for a few more months, but if you plan on really getting this old girl out on the road and packing on the miles...replace them. $20-$30 or so.
The spoke nipples are probably seized up with rust. After those rotted tires are removed I would start soaking the spokes/nipples from both ends with penetrating oil. It may take several days of heat from a propane torch, CAREFULLY heating the spokes and re-soaking and slowly applying just a little toque to the nipples with a spoke wrench, to get them to turn, but they usually can be freed up for truing the rims as needed.
One last thing...I can't tell if that is a Modolo stem or not, but those things are dangerous. If it is, replace it before hitting the road. They were recalled because some of them cracked at the handlebar clap. The loss of steering can be...uh...fatal. At the very least the possible epoch face plant should be avoided for the $25-$50 a replacement stem would set you back. In the one picture I see "Cycloman"...might be the manufacturer. The stem is raised above the safe insertion limit and needs to be lowered significantly before riding.
Good luck and thanks for having the decency to provide detailed pictures. Have at it! If nothing else you will have something very few other cyclists in your area have seen. It would be perfect for Eroica rides, vintage shoes and such. And for everyday riding!