The Dalton appears to have non-Reynolds rear stays (although it has 531 fork blade decals).
That bike and the Paramount are very different, functionally. About 10+ years in age difference, also.
Sport-touring vs. 'racing.' If you like the Dalton's performance (and comfort), you may not like the Paramount's, but that Waterford Paramount is a lot of high-end tubing, parts, workmanship, and quality for the money, if you ask me....