Bonty Resto

Got this Bontrager from eBay in 2004 and finally am beginning a much needed refurb. Apparently it was one of the last handmade Bontys from Santa Cruz, and was shipped minus the decal kit so was never fitted. I also don't recall the eBay seller indicating which Bonty he thought this is. The bike only has the original headtube decal and the "Handmade in Santa Cruz" decal on the seatube. Looks like probably none of the parts are original, except maybe the XT crank. Has XTR drivetrain and hubs (not sure which year). Brakes are Avid. Marzocchi Bomber front suspension. Threadless Chris King, which I'm pretty sure is sitting on a one inch steerer. In any case, it's off to the powdercoater this weekend.

That said, my question is - does anyone know exactly what I have here? My best research efforts lead me to believe it might be an earlier Privateer (because of the color), but I'd be thrilled if I've managed to score a Race! Thanks in advance for any opinions.

I wont pretend to know which it is but it looks fab.

Maybe a nicer stem needed though.

Well then I know it's not a Race Lite, as my headtube is different than the one shown on the link.
I'm confident it's pre-Trek - look at the beautiful welding on the frame - not mass market stuff, but then I've never seen a post-Trek Bontrager.
I can't locate a serial number on the bike either to maybe help with identifying the frame, so I'm still stumped as to what it is.