Yeah, I would guess that this "R" decal is for the bike shop as well. I think that the bike is great and if it fits you, ride it. I have a Colnago Sport that is made from Aelle tubing and I like the ride a lot.

If it doesn't fit you, depending on your area, you could easily sell that frame on CL to the fixie crowd; lugged Columbus steel + an older Italian brand = big bucks.