Katie may have a nice frame from between 1983 and 1986. Confirmed, I think, by the Dia Comp rear brake.
"I believe the Del Rey was Fuji's top of the line sport touring bike when it was first introduced. "
"I have a 1983 Del Rey, and I'm pretty sure it was the first year that model was made. It got a good write up in 'Bicycling' that spring, so I bought one. Price was $300. It came with Sun Tour Vx derailleurs, Sugino 52/42 crankset, Dia Comp brakes and levers, Ukui (sp) rims and I can't remember the name of the hubs. Nitto bars and stem. The weight was advertised as 24lbs. although I never weighed it. The frame is quad butted Valite steel tubing as T-Mar mentioned. And yes, the Del Rey model became a hybrid around 1986 ~."
"I've put over 50k miles on it over the years. I still ride it occasionally; although I've graduated to lighter and faster bikes, I never forget the sweet ride."
"The Del Ray was a 1980s model. I have specs for 1984-1986 and it cost $300-350 US. It's a bit arbitrary on where to draw the line between different levels, but I'd call this upper, entry level. At best, it's lower mid-range. All these version used Fuji's own Valite, quad-butted tubing and various SunTour/Sugino/Dia-Compe component mixes. The 1986 version did have a triple chainring, which would explain your touring description."
Note that Katie’s frame has little if any relation to the crappy aluminum hybrid bike Fuji now makes under the used-to-be-classy Del-Ray name.