It is my understanding that P-15's were considered "touring " frames and thus their geometry was a bit different that others in the line. As pointed out, most P-15's came from the factory set up to ride with 27" inch wheels/rims, but could be special ordered with with optional 700's.....I suspect that the OP's is riding on the 700's which would explain the pad locations.In any event it is a very nice looking repaint with the "upgrade" decals.
Best, Ben