Dropouts are unmarked, definitely not stamped, most likely forged with integral der. hanger, can take a photo if needed.
Frame brazing is not silver, design of the lugs does not match any photos of any paramount I've seen, Waterford or Japanese.
I'm saying it's not a Paramount - but what is it?
Weighing it on the shipping scale at work it's 23-24 lbs - no heavyweight by any means.....
And I'm not the only one with a similar problem - see this thread
http://www.bikeforums.net/showthread.php?t=408281

I'm also going to say it's a 1987 frame - based on the design of the head badge

http://www.re-cycle.com/history/Schw...nC_Badges.aspx