I know that I was not so good with photoshop...
As i could not really understand this bike (for your same reason, even if i was definitely pissed off by your tone), i wrote yesterday to Alberto Masi and, surprisingly, he replied this morning. He confirms my reconstruction (which was inspired by a member of another forum).
For non-italians speakers he said that the bike is a Prestige 1978/79. Bike was repainted and decal are not original. When repainted, the bike was modified and the shift cables passing below the bottom bracket were added. The fonts stamped on the bottom bracket identifies the frame. The original Italian text is below.
I am very happy to finally have rebuilt the history of the bike! At lenght, i may not be good at climbing mountains but I am a good cycling detective!
PS: regarding the brazed on front mech hanger: it indicates that the bike was fixed
---------- Messaggio inoltrato ----------
Da: Alberto Masi <email@example.com>
Date: 30 agosto 2013 08:47
Gent. Sig. XXXXXXX la bici e' una Masi prestige, l' anno e' del 78/79. È' stata riverniciata e le decalco non sono le sue anno fatto un adattamento, i passacavi sotto al movimento non sono originali sono stati fatti nella riverniciature. Le sigle so dei codici di riconoscimento del telaio. A sua disposizione per qualsiasi cosa. Tel. 02- 33101647 Distinti saluti A. Masi
Inviato da iPhone AM