Okay, I'll be the contrarian here. Of the two, I'd take the Paramount. I don't like the look of straight blade forks, and I think the paint scheme on the Colnago is garish and way too busy. I like the black-and-gold look of the Paramount, although I would like it much better if it had the "starburst" decals of the mid-60s to the mid-70s.

Yes, appearances matter. If it doesn't look good to me (and that very much includes the graphics), I don't want it.

I also agree that I, personally, would not pay that much for either frame. But that's me. If you have the bucks and one of 'em really speaks to you, then what the hey, go for it. My guess is either one will be a fun ride.