This frame is almost certainly not a Pinarello even though it has those decals. Does seem like a nicely put together frame but it is completely lacking in any pantographed features.
Here are the details I have figured out. The serial number on the bottom bracket is “54 9304” and it is stamped along the drive side. The 54 is almost certainly a size reference because it corresponds to the frame size.
It has a 27mm seat tube. (Not 27.2 or 26.8) Very nice engagement with a 27mm seatpost and the ears and slot of the binder assembly are not deformed.
Bottom bracket is Italian.
Dropouts are Campagnolo. It has braze ones for down tube shifters and it has brazed on Campagnolo cable guides on the top of the bottom bracket.
One set of bottle cage bosses on the seat tube.
Measures 126 at rear dropouts.
Recessed brake bolts.
Frame and fork have a matching paint job. Fork is chromed under paint and the crown is exposed chrome.

Any help in identifying would be greatly appreciated! This is a project I have taken on for our local bike Cooperative. Will likely remove Pinarello decals before sending it out to the wild so that an unsuspecting person does not get deceived.

that serial number treatment looks very similar to an Olmo I have

Thank you! I think you are spot on after looking at the Olmo catalogues and checking the Olmo registry.

My suspicion is that this is an early 80s Nuovo Sprint which was one of the mid range offerings by Olmo during that period. In looking at the catalogs, I found a lot of similar lugs used and the bottom bracket design is spot on. As is the serial number. The number style and actual number fit right in with other Olmos in the registry that I found here.

https://www.peterbrueggeman.com/cr/c...s/olmo-ssn.htm

That's a lot of bottom bracket spindle sticking out of the non-drive side