Faggin did various track bikes, including a sloping pursuit bike for a 650C front wheel and a couple different regular 700C frames. Now if you had the former, you wouldn't even be able to get a 700C wheel into the fork, regardless of how narrow the tire was. So I'm assuming you have one of the regular 700C frames. Those were made in that period with extremely tight clearances, such that one often had to grind out some metal from under the fork crown just to get decent clearances. This was a common problem and the Faggins I often raced against had clearances such that a slight out-of-roundness on a tire was enough to clip the fork crown (and if you picked up a piece of gravel from the infield, you typically had an instant blowout). I expect you have a flat-top fork crown, although they did both flat-top and sloping. The flat-top has plenty of metal to grind out underneath the fork crown, plus you'll be able to drill for a front brake as well. Not a big problem, at least insofar as one had to deal with it as a routine matter back when these bikes were in production. I had Rickerts, Colnagos, etc. etc. that all had the same kind of too-tight clearances.