Originally Posted by
oldbobcat
The cutouts on the head lug look painted on (as do the tangs under the fork crown), the seatstay caps look like a Chiorda, the chainstay ends look British, and the paint job says no older than late '80s. I'm not saying someone would build a counterfeit Colnago, but it's not unheard of to paint a lesser bike to try to look like one.
I think even from the distortion in the photo that you can tell the tangs are real as are the cutouts. The lug cutouts aren't something you could do after the fact. I'm not Colnago expert, but it looks plausible to me.