Here is one of my favorite resources for id'ing Merckx bikes.

http://www.cadre.org/Merckx/

Very helpful!

Otherwise, pestering OFG for some help seems to work well for me.

This site is also very helpful, and a spot to while away time dreaming about bikes I can't afford.

http://www.tearsforgears.com/

IMHO I would clean that frame carefully and start looking for a Campy NR or SR gruppo.

Looks like a "Professional" to me as well. I'd love to find one that fit me for a winter project.

edit:
BTW Looking at your pics, I see touch up work, not a repaint though. You will be absolutely amazed at the improvement with a thorough cleaning.

If you need cleaning ideas, please ask. I don't know your ability/experience level, but I'd be careful with some cleaners, especially if the decals are not clear coated.