There seem to be enough Colnago bikes with the clover only on the lower headtube... so I'm still keeping this as possible... pending verification of the dropouts and bottom bracket.
If the decals can be removed, I'd just take the Master Olympic script off, then just ride it as-is.
At about $700, it is sharp looking, with older 8-speed Ergo shifters (I see, mostly Athena). Not the best deal, but not a bad deal either.
I suppose it really depends on whether the goal is to get a wall hanging collector's item, or a nice riding bike. This seems to be more in the rider category than collector category.