rhm

The Grand Prix was ten or twenty bucks more expensive than the Record, the main difference that I can remember was that the GP had quick release wheels, and maybe one or two other parts were a little higher quality, maybe Weinmann brakes instead of Altenburgers or something like that; but the frames were basically of the same quality except for some details as redneckwes mentioned. It is strange, now that I think about it, that such similar bikes had different frames; I wouldn't really think of the Grand Prix frame as a higher quality one than the Record.

So to answer your question, the Grand Prix was higher up the food chain thirty years ago; but only slightly so. Which one is more desirable today would come down to condition. So if you're only looking at a frame & fork, I would consider it an upgrade only if you see some obvious reason to prefer one over the other; better paint, better color, better condition, more attractive lugs, etc.

For a noticeably better frame on a Raleigh of that period you have to move up to the Super Course or higher still something with a "531" or at least a "Carlton" decal on the seat tube.