OK, they certainly are not Waterford or Chicago built, but Schwinn imported some nice bikes and put the Paramount name on them. They only show up in the catalogs for two years (1991 and 1992). By 1993, Schwinn changed the numbering system. I consider my 1987 Prologue to be a precursor to the Paramount series line, it was made by National/Panasonic.
It is my understanding that the higher end ones were built by National/Panasonic, the lower series were built by other suppliers (I think my 1991 Series 3 was made in Taiwan). One place where Schwinn really scrimped on these bikes were the components. My Series 3 came with RX100 components (WTF?) and my Series V came with Shimano 105. IMHO, the Series 5 was certainly worthy of Shimano 600 components.
I just sort of finished my 1992 Series 5. I believe it was built by Panasonic. I love the paint, got some purple bottle cages on order. They call this color scheme: "White with Purple Slime". I think I would have used a different term than Slime if I was in the marketing department. Regardless, I like the combo.
I changed out the bars, stem and seat post, didn't care for the black cromoly stem, and I had some nice Cinelli stuff laying in the parts bin. The bike is mostly Ultegra, with 8 speed Shimano 600 STI, and Shimano 105 wheels (I have an Ultegra wheelset to mount later). I could also do better on tires, but these were already mounted, so I will used them for a while.
I know Robbie has a Series 7. Anyone have a Series 9C??