I see that it has chrome headlugs and crimped tubing. Is the tubing Gilco? If it is, this might actually be a Master, or Masterpiu, which is a screaming deal for 117.

See Catalog here for info:
Master:
http://bulgier.net/pics/bike/Catalogs/colnago-88/04.jpg
Masterpiu
http://bulgier.net/pics/bike/Catalog...ago-88/04a.jpg

Take this info with a grain of salt, as Colnago models are inconsistent at the best of times.