Paramounts are great riders. The modern Paramount today is a Waterford and nobody knocks their quality.

I'm a little surprised about stem shifters. They never should have been on a Paramount. On the classic Paramount you'd almost certainly have downtube or perhaps barcons. I've never seen stem shifters with a Campy group either, even lowline ones like Valentino. Towards the end of the 80s Schwinn started using the "Paramount" name on bikes that were not hand built. Decent bikes but not truly "paramount" bikes.

If it's an old school Paramount, you're buying the only bike still (somewhat) available that can trace an American racing legacy back to the 1930s. It's also a handbuilt frame with quaity to match anything out of Europe.

To be concise: If it's an old school Paramount, buy it. You'll be happy.