For what you paid, can't imagine much buyer remorse here. This is most certainly the top end Merckx model, the no. 102 Super Competition. All Reynolds DB 531. It is distinguished from the Giro d'Italia by having the chromed fork crown.
Other than the lack of chromed fork ends and head lugs, this was pretty much the equal of the Equipes and a beautifully made machine. The really good Falcons are actually rare. These were brazed in a stand-alone section of the main factory in Barton-on-Humber which was run by George Flavell.
But the "Dog's Breakfast" components on this do it no favors in initial impression I grant you!
Peter Kohler
Washington DC USA