I had a similar frame in red (olympic rings on the head badge?). 54 never built up. Sold it for $500 with a record headset and veloce bb. I think it was a mid 90s frame. Bought in NOS in maybe 2000 and never built it up.
The guy I sold it too emailed me back and was stoked-said he would have paid more.
Tar Heel in the Rockies
Pinarello only ever had a single CX model to my knowledge. The Pinarello-branded tubing (such as Dolmen) started showing up in the late 90s (1996-7 onward mostly). Most of the Pinarello-branded tubing was just rebadged Deda tubes. I'd probably say 1998 or so for your frame, most telling is the mix of the new logo in decals and the old logo stamped into lugs, BB, fork and on the tubing decal.