Lynn has better eyes than me, but I'd agree that the choice of components would indicate a lower-cost model. If it's Falck tubing (that's how it's usually spelled), that was a lower-cost straight-guage chromoly steel tubing that was probably pulled for the Italian co. by Mannesman. It's considered less desirable than Columbus DB tubes, and reduces the asking price, but there have been some top-notch builders that occasionally used Falck for their frames (I'm using sketchy brain cells here: Masi? Cinelli? Colnago?) so it's not necessarily "junk", and like Lynn says, a bike built well with it probably rides just fine.