Join Date: Jun 2006
Location: Reisterstown Maryland
Bikes: Austro-Daimler Olympian Trek 800, Giant OCR C3
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I'll start this reply with the warning: I am no expert, and I don't pretend to be one.
I've checked out both websites, and while they both build lugged steel frames, I wouldn't call Waterford a wannabe. Waterford is owned by a scion of the Schwinn family. He bought the Paramount, and other famous Schwinn lines back from the new owners after Schwinn failed. Both build custom steel frames and fill a similar market niche. They are similar, and expensive. I have read good/great things about both, but don't have the scratch to even worry about buying their bikes. (Plus just got a Giant OCR C3, and it's better than I'll be for a long time to go. And I have an old European lugged steel bike waiting for some repairs in my work room.)