Never seen a Campy RD that looked like that...I wonder if it was a short-lived Triomph or Victory...or maybe even a very late Valentino? In any case, I agree that some of the components are slightly lower grade, but the frame LOOKS like top Italian steel (especially from this distance) and has a good light wheelset. I know Atala made the whole range from kiddy bikes to all-Campy Pro racers, this one probably rides just fine.