That is an amazing frame with all of the L milling everywhere. Really it has so many touches it doesnt seem as though it its from Lightspeed.
I love craftsmanship and this baby oozes with it.
Odd about the seatstays.....if you have disc brakes why have the bending?
With my limited experience of Lightspeed...I would say this era is when Litespeed were at their height...producing stunning frames that they would cost an absolute fortune today (which, I think, is why they stopped producing them).
My mate has a Tanasi from the same era and its stunning too.
Don't know about the seat stays
For ever changing my mind and my cars