Anyway, I picked up what looks to be a late '80s Faggin frameset recently and I was hoping someone here could help me figure out what year it was made. The serial # is stamped on the underside of the BB shell and reads "1422".

The rear spacing is 126, it came with what I think are older Xenon headset & BB. It's Columbus Tretubi, though most of that sticker has disintegrated. Anyone got a clue?

I think you are about as close as you're going to get. Information is scarce on these bikes. The early 80s bikes that I have seen look a little better finished to me. My lates 80s models is a tad sloppy in my opinion but still a nice bike and has top notch materials. Yours is tretube so lower in the lineup. The 126mm spacing indicates it is not likely any newer than 1990. Pics would help, determine if it is early 80s, the early 80s bikes I have seen had F cutouts on the BB and the style of the pantographed logo did change slightly from early to late 80s. A lot of words, very little information.