I just bought an IRO Mark V frame last friday from a very well known bike shop in Toronto, so as to turn my conversion (nice wheels, ugliest frame in all six universes) into something a little more respectable. I was fairly thrilled, other than the size (a 62, a little big, but more than ridable for a man of my stature), and have spent every spare second in the very busy/hungover past few days finding random spare parts for it (bracket cup, headset etc).

Today I finally got everything I needed together, and set about putting the whole thing together, and flipped the thing upside down to install the bracket, cranks and chain. To my surprise, along the bottom of the bottom tube lie the biggest frame ding I've ever seen...almost an inch wide. And it's under the paint-not a scratch. Niether I nor the bike shop guy noticed it as the bottom tube was covered in cardboard while I bought it.... I severely doubt this was the result of anything I did, and probably not the shop either.

Been phoning the shop for the last 15-20 minutes, but all I'm getting is voicemail (which is full). Gonna keep trying.

What should I do? Does this constitute a factory defect? Is this a serious risk if not replaced? Am I in for the boxing match of my life if I try to get it replaced?

BTW: I learned something new today. Where an old ten-speed frame will usually line up perfectly with the lower gear in a road crank(39), a newer track frame lines up fairly perfectly with the larger(52)...when I finally get this bastard on the road, it's gonna feel a little different...