Having owned both a '72 P15-9 and an '87 Waterford "Standard", I'd have to say "it depends"...

The seventies Paramounts had longer chainstays and wheelbase, while the Waterford bikes had shorter chainstays and steeper seat tube angles.

For comfort on long rides, I'd use the '72. For shorter rides where I want to ride fast with agile handling, I'd choose the '87.

In '89, the Waterford facility came out with Paramounts built with True Temper OS tubing (and in '93 switched to 753 OS). I built up a '94 Paramount 753 OS frameset with Chorus 11-s for a riding buddy, and he loves it on long rides (545 mile 7 day AIDS/LifeCycle S.F. to L.A. ride every year).

Here's the '70s geometry:


...and here's the '87 geometry:


Here are the two together.



When I had my custom 953 Waterford built in 2007, I specified geometry virtually identical to the '72 P15.