Except it looks as though it might have been made a bit better than a P7, as most 1998 P7s don't have their plating in quite as good nick as that.
I have here the May 98 MBR with an ad for a Tange Handsome Dog with LX/RC36 for 925. It says Flite Ti saddle, Azonic ORC stem, Planet X post, Conti Pro Traction tyres, FSA headset, LX SPDs. Looks pretty original to me then. Have you ever ridden it?
Seriously though, I've never seen a test of the steel frame, but the Easton Elite version scored 5/5 from Total Bike at around that time, so for 189 vs P7 399 for the frame, the Handsome Dog looks quite a bargain.