I haven’t read all the replies so I will reply with my first hand understanding, and if I get something wrong then someone can correct me.

My Master Light rides nice in my opinion, and to my thinking it loves to corner. My understanding is that the Master Light is for a heavier framed rider and I think it has a weight limit of 230 pounds. The Olympics were either for lighter riders, or were an earlier version of the Master which was an earlier version of the Master Light. The actual facts of that last sentence depends upon who you believe and where you got the info from.

I wrote Colnago awhile back to try and figure out the year of my bike and Alessandro Colnago wrote back and said my bike is a 1997 model year. Kind of neat to get that reply.

Mine is currently set up with Shimano 600 8-speed and a blends of hubs/rims set up by a owner of a small one-man bike shop which is no longer in business. I raced it one time in one criterium with no pre-season training and probably less than 50 miles on my legs for the six months before the race. I stayed with the pack during the practice laps, and the first few race laps, then got blown out the back so fast I thought they were going to lap me twice before the next corner so I bailed and enjoyed the rest of the race as a sweaty spectator while waiting for my heart rate to return to earthly levels. The bike did great and cornered faster that I have ever cornered before while I lasted. I did not die and did not crash.

My only two concerns with the bike are as follows:
1. It says “soft paint” on it, which simply means uncoated, but for some reason people want to dig their thumbnails into it. So far I haven’t had to break anyone’s thumbs.
2. I have concerns about hanging the bike on a car rack because it might damage the oaint, so I either transport it inside the car with the wheels removed, or I just ride it where I want to go.

The ride is difficult to quantify, not comfortable in a relaxed sort of way but yet is comfortable to ride (the Trek 520 is more relaxed but doesn’t corner near as well), the bike likes to corner but does not have a mind of its own and will generally go where you point it, not overly stiff and not flexy either - kind of just right. It could be a thief magnet but I would hate to hang a lock on it, so I ride it accordingly.

Possibly no help at all in my answer, but perhaps the answer you seek is buried in there somewhere.

Enjoy your new bike.