Not to confuse matters, but I have a 1984-ish Scapin which is partially kitted out with Cambio Rino parts. My understanding from research when I picked it up off of eBay was that the bike was an entry level racer (Columbus Aelle tubing) which originally shipped with a mix of parts, including Campy 980 derailleurs, a Gipemme bottom bracket (Italian thread) and crankset, Modolo Flash brakes ... and Cambio Rino hubs laced to Cambio Rino tubular rims, a Cambio Rino headset, and **maybe** a Cambio Rino (but Scapin-panto'ed) stem (I'd have to look the next time I extract the stem).
Given the mix and predominant price point of the parts, I'd always assumed that Cambio Rino parts of that era were kind of like Ofmega or Gipemme, i.e. trying to match Campy quality, but always a notch or two down, at least in the eyes of the buying public.
That said, my Scapin is one hell of a fun, lively ride, and the wheels roll just as smooth as the Campy tubular wheelset from the same era which I have.